U.S. Imposes Sanctions on Iranian Oil Shipping Network

On December 3, the United States announced sanctions against 35 entities and vessels linked to the transportation of Iranian petroleum and its derivatives to international markets.

These sanctions are a response to Iranian attacks on Israel on October 1 and recent announcements of nuclear advancements. According to U.S. officials, the aim is to disrupt funding for Iran's nuclear program, the development of drones and missiles, and its support for terrorist proxies by targeting revenue generated through oil sales. The sanctions specifically target vessels and companies involved in transporting millions of barrels of Iranian oil.

Among the vessels sanctioned are Olive, Masal, Jaya, Phonix, Merope, Bertha, Lioness, Yuri, Min Hang, Ceres I, Vanity, Lady Lucy, Elva, Vesna, FT Island, Black Panther, Veronica III, and Fiona II, which have reportedly been used to ship large quantities of oil for Iran. Alongside these ships, the U.S. has sanctioned several entities responsible for operating, managing, and facilitating the sale of Iranian oil.

Additional vessels include the Lara II and Rio Napo, both owned and managed by India-based Vision Ship Management LLP, which has also been sanctioned. The Rio Napo has previously transported Iranian naphtha to the UAE. 

Another vessel, the Tonil, is accused of evading prior sanctions while transporting millions of barrels of Iranian oil. The Tonil is owned and managed by Ukrainian Lightship Management Ltd., another sanctioned entity, while Indian Tightship Shipping Management (OPC) Private Limited has been implicated in its operations.

This latest round of sanctions highlights the United States’ commitment to cutting off Iran’s access to oil revenue in a bid to curb its regional influence and military capabilities.