Washington, DC — December 18, 2025: The U.S. Department of the Treasury has imposed new sanctions on 29 vessels and their associated shipping companies for their roles in helping Iran export oil and petroleum products in violation of U.S. sanctions, according to a Treasury press release.
The action, announced by the Office of Foreign Assets Control (OFAC), targets ships and management firms believed to be part of Iran’s so-called “shadow fleet” — a network of tankers that transport crude oil, fuel oil, bitumen, naphtha and other petroleum products using deceptive practices to obscure the origin and destination of shipments.
According to the Treasury, these vessels and companies have moved hundreds of millions of dollars’ worth of Iranian petroleum products, helping Tehran earn revenue that U.S. officials say can support military and destabilizing activities. The sanctions designation freezes any assets these entities hold in the United States and generally prohibits U.S. persons and companies from engaging in business with them.
Among the firms singled out is Phoenix Ship Management FZE, based in the United Arab Emirates, and Arihant Shipping Inc. of Panama, along with India-linked operators such as Rukbat Marine Services Co and Darya Shipping Pvt. Ltd., whose vessels reportedly carried substantial cargoes of Iranian petroleum during 2025.
The Treasury press release also highlights that this latest action is part of a broader sanctions campaign under Executive Order 13902 and the National Security Presidential Memorandum 2, aimed at maximising economic pressure on Iran’s petroleum sector and curtailing its ability to benefit from oil revenues. The U.S. has now sanctioned more than 180 vessels connected to the shadow fleet since this intensified campaign began.
U.S. officials emphasise that these measures are intended to raise the cost of exporting Iranian oil, limit Tehran’s financial resources, and disrupt the complex networks that enable sanction evasion via opaque ownership structures, frequent flag changes and irregular documentation.
