The United States has widened its sanctions campaign against Iran’s maritime sector, this time targeting marine insurance providers and eight tankers accused of facilitating the country’s oil exports, according to Ship & Bunker.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the measures on Wednesday, describing them as part of an ongoing effort to disrupt Iran’s shipping and energy networks and squeeze the country’s petroleum export revenues, Ship & Bunker reports.
Insurers Accused of Forced Coverage Scheme
Among those designated are Persian Gulf Marine Insurance Company (PGMIC) and HormuzSafe Marine Services Authority. According to the Treasury, as cited by Ship & Bunker, the two entities allegedly ran an insurance scheme that compelled commercial vessels transiting the Strait of Hormuz to purchase regime-backed maritime cover.
The Treasury stated that this insurance was marketed as protection against risks such as vessel seizures, while the proceeds helped generate revenue for the Islamic Revolutionary Guard Corps (IRGC). HormuzSafe was further accused of accepting payments in digital assets, a method the Treasury said was used to help circumvent existing sanctions.
Eight Tankers Added to Sanctions List
The latest action also names eight tankers, along with their owners or operators, for allegedly transporting millions of barrels of Iranian crude oil and petroleum products to destinations including China and the UAE. The vessels identified by Ship & Bunker are Well Sail, Lily, Al Salmi, Breeze V, Natsumi, Crystal, Nireta, and Yehope.
According to the report, the Treasury has now sanctioned more than 100 vessels connected to Iran’s so-called shadow fleet since the beginning of 2026, as Washington continues its push to limit Tehran’s oil revenues.
Does This Matter to You?
Vessels transiting the Strait of Hormuz, along with their insurers, owners, and charterers, may face increased scrutiny as a result of this designation, particularly given the direct targeting of marine insurance providers operating in the region. Companies with any commercial ties to the newly sanctioned tankers or their operators could also face compliance exposure.
The broader pattern of escalating US sanctions against Iran’s shadow fleet, now exceeding 100 vessels in 2026 alone, suggests continued volatility in due diligence requirements for parties involved in crude oil and petroleum trades touching Iranian-linked supply chains. The source material does not detail further enforcement mechanisms or specific compliance guidance beyond the designations themselves.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker
