U.S. Treasury Targets Iran’s Revenue Streams with New Sanctions
Washington D.C. – The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced sanctions on Wednesday, February 25, 2026, against over 30 individuals, entities, and vessels allegedly involved in facilitating illicit Iranian petroleum sales and supporting Iran’s ballistic missile and advanced conventional weapons production. The actions are part of a continuing U.S. Pressure campaign aimed at curbing Iran’s destabilizing activities.
Targeting Iran’s “Shadow Fleet”
The sanctions specifically target vessels comprising Iran’s “shadow fleet,” described by the Treasury Department as the regime’s primary source of revenue. This revenue is allegedly used to finance domestic repression, terrorist proxies, and weapons programs.
According to the Treasury Department, “Iran exploits financial systems to sell illicit oil, launder the proceeds, procure components for its nuclear and conventional weapons programs and support its terrorist proxies.” Secretary of the Treasury Scott Bessent stated that the U.S. Will continue to exert “maximum pressure” on Iran to address its weapons capabilities and support for terrorism.
Vessels and Entities Sanctioned
The following vessels were sanctioned: Hoot, Ocean Koi, North Star, Felicita, Ateela 1, Ateela 2, Niba, Luma, Remiz, Danuta 1, Alaa and Gas Fate.
The organizations sanctioned include: Poros Maritime Ventures S.A., Ocean Kudos Shipping Co Ltd., Mistral Fleet Co Ltd., Vast Marine Inc., Behengam Tadbir Qeshm Shipping and Maritime Services Company, Paros Maritime S.A., Wansa Gas Shipping Co., Goldwave Maritime Services Inc. And Ithaki Maritime and Trading S.A.
Expanding Sanctions to Facilitators
OFAC also targeted entities based in Iran, Turkey, and the United Arab Emirates that allegedly assist in procuring precursor chemicals and sensitive machinery for Iran. These include: Iran-based Oje Parvaz Mado Nafar Company. Turkey-based Utus Gumrukleme Gida Tekstil Ithalat Ihracat Dis Ticaret ve Sanayi Limited Sirketi, Arya Global Gida Sanayi ve Ticaret Limited Sirketi, and Altis Tekstil Makina Ticaret Limited Sirketi (Altis); Iran-based Adak Pargas Pars Trading Company; and UAE-based Mostafa Roknifard Prime Choice General Trading LLC.
Individuals Targeted
Four individuals based in Iran were also sanctioned: Mohammad Abedini, Mehdi Zand, Mehrdad Jafari, and Ebrahim Shariatzadeh. These individuals are reportedly employees of Qods Aviation Industries, which was previously sanctioned in 2013.
Broader Context of Iran Sanctions
The U.S. Treasury Department’s OFAC regularly issues advisories regarding Iran sanctions, covering various industries and activities. Parties interested in ensuring compliance with these sanctions are encouraged to review the latest guidance available on the OFAC website. This includes guidance on detecting and mitigating Iranian oil sanctions evasion, ballistic missile procurement, and illicit shipping practices.