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The US on Thursday unveiled a modest expansion of sanctions on a targeted network of individuals, front companies and tankers responsible for shipping Iranian oil to China.
The measures are the first since US President Donald Trump signed a presidential memorandum earlier this week reimposing “maximum pressure” on Iran aimed at denying the country pathways to a nuclear weapon and countering its “malign influence.” The memo said the US’ goal is to drive “Iran’s oil exports to zero, including exports of Iranian crude to the People’s Republic of China.”
“The Iranian regime remains focused on leveraging its oil revenues to fund the development of its nuclear program, to produce its deadly ballistic missiles and unmanned aerial vehicles, and to support its regional terrorist proxy groups,” said US Treasury Secretary Scott Bessent. “The United States is committed to aggressively targeting any attempt by Iran to secure funding for these malign activities.”
Despite the strong rhetoric, Thursday’s sanctions actions were modest in scope and appeared more akin to the routine moves taken under former US President Joe Biden than a clear indication of a sweeping new sanctions regime under Trump, US policy observers said.
“These seem like standard enforcement actions, not escalation,” said Daniel Fried, a former US diplomat who is now with the Atlantic Council in Washington.
“This seems … very minor?” agreed Gregory Brew, senior analyst on Iran and Energy for the Eurasia Group, in a post on social media platform X. “Entirely possible that this was a preprepared designation that Ofac had ready to go. Even down to the header, language is very similar to Biden-era action.” Ofac refers to the Office of Foreign Assets Control, which oversees and enforces US Treasury sanctions.
That said, the actions come just two days after the executive memo was signed, making it too early to determine just how hard Trump might go on pressuring Iran. Trump’s administration features both Iran hawks and those more amenable to diplomacy.
In the Crosshairs
The US Treasury’s latest action targets oil shipped on behalf of Iran’s Armed Forces General Staff through the front company Sepehr Energy, which was blacklisted by the US in 2023.
The department also said it was targeting myriad “shadow fleet” vessels and management companies across multiple countries, including India, China and the United Arab Emirates.
The US sanctioned the Comoros-flagged oil tanker Anthea, now known as Siri, which it said is currently operating under the name New Prime. The tanker is operating off the coast of Singapore carrying millions of barrels of Iranian crude oil, according to the Treasury. The ship’s captain, an Iranian national, was also sanctioned.
Marshal Ship Management, an India-based crew management company, was also sanctioned alongside the company’s director for providing crew to the Siri as well as other ships tied to Sepehr Energy. The Treasury said the crew has helped to falsify shipping documents.
Also drawing sanctions were the Panama-flagged CH Billion and the Hong Kong-flagged Star Forest for transporting Iranian oil to China. Last month, the two tankers loaded Iranian crude from storage in China, the Treasury said.
Hong Kong-based Young Folks International Trading and China-based Lucky Ocean Shipping were sanctioned for operating the CH Billion and Star Forest, respectively.