US sanctions Iran oil network targeting shippers, traders and military front companies

1 June 2026

The US has designated a network of companies, vessels, and 1 person connected to the trade and transport of Iranian oil and petrochemical products – State press release & fact sheet; Treasury press release.

State Department – vessel managers and traders (EO 13846)

The State Department designated 8 vessel management companies, including:

• Ever Shining Limited (Hong Kong)

• Seafoam Marine Ltd (UAE)

• Symphony Shipping and Maritime Management Inc (UAE)

• Vanguard Marine Ventures Inc (UAE)

Eight associated vessels were identified as blocked property.

3 petrochemical traders were also designated.

• Classy Pansy Trading and Contracting WLL (Qatar)

• Alt Capital Pte. Ltd (Singapore), and

• Rishabh Triexim LLP (India) along with Swaroop Jayantilal Bagrecha, a principal executive officer of Rishabh.

OFAC – military front companies (EO 13224)

OFAC designated 5 Hong Kong-based front companies linked to Sepehr Energy Jahan Nama Pars Company, the oil sales arm of Iran’s Armed Forces General Staff:

• Growth Trading Co., Limited

• Damai Technology Development Limited

• Tida Co., Limited

• Mehdiyev Trading Co., Limited

• Worth Seen Energy Limited

See our Iran pages for more information.