US tightens Iran sanctions in fresh crackdown

The U.S. government froze American-linked assets connected to eight tankers, eight overseas shipping companies, and two recently established Iranian maritime groups to increase economic pressure on Tehran.

The sanctions, announced by the Treasury Department’s Office of Foreign Assets Control, require any property or financial interests belonging to the designated parties under U.S. jurisdiction to be blocked. American citizens and businesses are prohibited from engaging in transactions with them.

The measures do not physically seize the vessels or stop them from sailing. Instead, they create financial and operational obstacles for their owners and operators, making it harder to access banks, insurers, dollar-based payments, and other international maritime services.

OFAC added 10 entities and eight vessels to its Specially Designated Nationals list. The targets include firms based in Iran, Hong Kong, mainland China, and the Marshall Islands. Among them is HormuzSafe Marine Services Authority, located in the Iranian port city of Bandar Abbas. Records indicate the organization was established in 2026 and operates in financial and insurance activities. It faces secondary sanctions, meaning non-U.S. companies could be penalized for certain dealings with it.

The Persian Gulf Marine Insurance Company, another newly formed Iranian entity, received the same designation. Like HormuzSafe, it operates in financial and insurance activities and carries the risk of secondary sanctions. The Treasury notice did not explain the ownership of either organization or their connection to Iran’s existing shipping management system in the Strait of Hormuz.

The designations arrive as control of the Strait of Hormuz remains a key dispute in negotiations between Washington and Tehran. Before the U.S.-Iran conflict began on February 28, the waterway carried about a fifth of the world’s oil and liquefied natural gas. Since then, traffic has dropped sharply due to attacks on vessels, military operations, and competing claims over passage rights.

Iran rejected an Omani proposal for joint regional management of the waterway on Wednesday. Tehran demands control over all inbound traffic and part of the outbound route, while the U.S. insists ships must pass freely without paying Iranian tolls. President Donald Trump stated this week that discussions were progressing, though disagreements over the Strait’s future persist.

Commercial traffic has nearly stopped. Ship-tracking data showed only eight commodity vessels transiting Hormuz on July 28, followed by one the next day. The restrictions may not change that immediately, but they could make it harder for Iran to maintain even this reduced flow, particularly if insurers and banks become more hesitant.

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Most of the targeted tankers are over 15 years old, and their owners have already struggled to find reliable service providers. The new measures might push them into less transparent networks or force them to operate in the shadows.

The eight sanctioned companies are registered in Hong Kong, Shenzhen, and the Marshall Islands. Seven of the vessels are crude oil tankers: Al Salmi, Breeze V, Crystal, Lily, Natsumi, Nireta, and Yehope. The eighth, Well Sail, is a chemical and products tanker.

These ships were built between 2002 and 2007 and have sailed under flags including Barbados, Vanuatu, Mozambique, Panama, and the Marshall Islands. Each vessel is linked to one of the sanctioned firms: Billion Nexus International, Branch Saying International Trading, Confident Apex, Marinova Freight, Nevada Spirit, Ocean Tranquility, Qi Hang Ship Management, and Vast Mighty.

All were designated under Executive Order 13902, which permits the U.S. to sanction companies and individuals operating in or supporting targeted sectors of Iran’s economy, including finance, petroleum, and petrochemicals.

In May, the Treasury sanctioned Iran’s Persian Gulf Strait Authority, accusing it of running a scheme tied to the Islamic Revolutionary Guard Corps to collect payments from vessels seeking passage. The latest notice did not clarify whether HormuzSafe or the Persian Gulf Marine Insurance Company is connected to that authority.

No detailed explanation for Wednesday’s designations was provided at the time of publication.

The move follows a pattern of escalating measures against Iranian-linked shipping networks. Similar actions have been taken in the past, including when Trump met with Israeli and Ukrainian leaders to discuss regional security concerns.

While the sanctions aim to restrict Iran’s economic activities, their long-term impact remains uncertain. The country has previously adapted to such pressures by shifting trade routes and finding alternative financial channels.