By The Epoch Times | Created at 2026-10-08 23:02:30 | Updated at 2026-10-09 00:02:50
1 hour ago
The U.S. government imposed new sanctions targeting most of the remaining tankers in Iran’s so-called shadow fleet as Washington continues to increase economic pressure on Tehran.
Announcing the sanctions on Thursday, the Treasury’s Office of Foreign Assets Control designated 17 shadow fleet ships responsible for the transportation of millions of barrels of Iranian crude oil, petroleum, and petrochemical products to markets in South Asia and East Asia.
The sanctions, which the Treasury Department said will target and effectively neutralize the “vast majority” of the regime’s remaining shadow fleet, mark the latest expansion of the Trump administration’s Operation Economic Outcast.
Since Treasury Secretary Scott Bessent announced the economic pressure campaign on Aug. 24, the U.S. government has continued to impose additional sanctions on individuals and entities that do business with Tehran and help the regime evade sanctions.
“Treasury is starving the tyrannical regime in Tehran of the money it uses to wage war in the region, and we will continue exposing those who enable the regime’s oil sales,” Bessent said in a statement on Thursday.
The Treasury said the sanctioned vessels were operated by a network of international front companies and demonstrated the global scale of Iran’s illegal shipping and sanctions evasion efforts.
Two vessels were removed from the Treasury’s list of sanctioned ships on Thursday. The Treasury said the Hakuna Matata and the Pinocchio, sanctioned as part of the Iranian shadow fleet in June 2025, were sold to non-sanctioned U.S.-aligned operators and were no longer part of the shadow fleet.
In addition to the sanctioned vessels, the Treasury designated 18 associated companies for operating in Iran’s petroleum and petrochemical sectors.
Under Thursday’s sanctions, any property of the designated entities in the United States or in the possession of U.S. persons will be blocked and must be reported to the Treasury’s Office of Foreign Assets Control.
Any entities owned 50 percent or more by blocked persons will also be blocked under the sanctions.
“With the success of the U.S. military’s blockade, dwindling Iranian oil shipments outside the blockage line, and intensifying economic pressure across sectors from Operation Economic Outcast, the regime is running out of options to stabilize Iran’s failing economy,” the Treasury said.
Tehran has tried to brush aside the sanctions campaign, continuing to demand that the United States agree to certain conditions before reopening the Strait of Hormuz.
In a speech to the U.N. General Assembly on Sept. 23, Iranian President Masoud Pezeshkian warned that increased sanctions and pressure would only result in increased resistance.
The U.S. military has continued to enforce a blockade of Iranian ports. As of Oct. 5, U.S. forces had redirected 130 ships to ensure compliance with the naval blockade of ships attempting to enter or leave Iranian ports, according to U.S. Central Command (CENTCOM).
Additionally, CENTCOM said in an Oct. 8 social media post that U.S. forces have supported the shipment of more than 1.25 billion barrels of crude oil from Gulf partners through the Strait of Hormuz. The command said Iran has had zero oil exports shipped due to the “ironclad blockade.”
Trump said on Thursday that the United States would not launch more attacks against Iran before the midterm elections on Nov. 3 due to “productive discussions” between Washington and Tehran. The president added that the Iranian military and economy were both “in very bad condition.”
The 17 sanctioned vessels include tankers registered in the Bahamas, Cameroon, Comoros, Gambia, Hong Kong, Mongolia, Palau, Panama, San Marino, Sierra Leone, Vanuatu, and Zanzibar.
The designated companies include Paritosh Shipping Inc., Ornella Shipping Inc., Hechuang International Group Limited, Kanha Shipping Inc., Terra Nav Shipping Ltd., Betta Shipping Inc., Makarua Shipping Limited, Goddess Shipping Corp., and Standwill Shipping Limited.
Other companies designated by the Treasury on Thursday include Gravion Maritime Company, Nostalgia Company Limited, Brich Shipping Company Limited, Northport Navigation Inc., Shunhang Ship Management Limited, JLS Dragon Co Ltd., Brich Shipping Company Limited, Saint Abundant International Co Limited, and Science Ru Trading Co. Limited.
