The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a new round of sanctions on Wednesday, July 29, targeting a network linked to the Islamic Republic and adding 10 companies and seven oil tankers to its sanctions list.
According to the U.S. Department of the Treasury, the sanctions were imposed under Executive Order 13902 and target entities and companies due to their connections with the Iranian regime.
Among the newly sanctioned entities are “Hormoz Safe Maritime Services” and “Persian Gulf Maritime Insurance Company,” both of which operate in Iran. The Treasury Department stated that these two entities are subject to secondary sanctions in addition to primary sanctions.
According to the statement, the sanctioned companies are registered in Hong Kong, China, and the Marshall Islands, while the seven designated oil tankers operate under various flags. The U.S. Treasury identified these tankers as being connected to the companies included in the new sanctions package.
