OFAC is additionally imposing sanctions on 19 entities and vessels responsible for shipping millions of barrels of Iranian oil, comprising part of Iran’s “shadow fleet” of tankers supplying teapot refineries like Luqing Petrochemical.
Today’s action is being taken pursuant to Executive Order (E.O.) 13902, which targets Iran’s petroleum and petrochemical sectors, and marks the fourth round of sanctions targeting Iranian oil sales since the President issued National Security Presidential Memorandum 2 on February 4, 2025, ordering a campaign of maximum pressure on Iran.
Concurrently, the Department of State is designating one entity pursuant to E.O. 13846, for having knowingly engaged in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran.
Source by Treasury Department
