US issues new Iran-related sanctions targeting 12 vessels, focuses on LPG trade

According to a 25 February notice from the US Department of the Treasury’s Office of Foreign Assets Control (OFAC), 12 vessels have been blacklisted. These include six LPG carriers, four crude oil tankers and two small product tankers.

The measures also target networks that, according to OFAC, help Iran’s Islamic Revolutionary Guard Corps (IRGC) and the Ministry of Defense and Armed Forces Logistics (MODAFL) to acquire materials and equipment for missile and advanced weapons production, as well as for exporting unmanned aerial vehicles (UAVs) abroad.

“Iran exploits financial systems to sell illicit oil, launder the proceeds, procure components for its nuclear and conventional weapons programmes, and support its terrorist proxies,” US Treasury Secretary Scott Bessent said.

“Under President Trump’s leadership, the Treasury will continue to apply maximum pressure on Iran, targeting the regime’s weapons capabilities and support for terrorism,” he added.

Focus on LPG trades

OFAC said the designated vessels have “collectively transported hundreds of millions of dollars’ worth of Iranian petroleum and petrochemical products.”

Among the newly sanctioned ships is LPG carrier Hoot, owned by Panama-based Poros Maritime Ventures, which is said to have transported Iranian LPG to Bangladesh in 2025.

LPG carrier Luma, owned by Marshall Islands-based Wansa Gas Shipping Co, has reportedly delivered LPG to end users in Bangladesh and Pakistan since late 2025. The vessel had previously carried Venezuelan LPG.

Another targeted vessel, LPG carrier Niba, owned by Panama-based Paros Maritime, has transported butane and propane since 2025 and has been described by OFAC as part of the Iranian shadow fleet since at least 2020.

The remaining LPG carriers designated are Danuta I (owned by Panama-based Ithaki Maritime and Trading), Alaa (owned by Liberia-based Kaito Navigation) and Gas Fate (owned by Marshall Islands-based NYR Shipping Co). 

These vessels have been cited for transporting LPG to East Asia and Turkey, while Gas Fate is also reported to have carried grey ammonia to various jurisdictions.

Among the crude oil tankers designated are Ocean Koi, owned by Marshall Islands-based Ocean Kudos Shipping Co; North Star, owned by British Virgin Islands-based Mistral Fleet Co; and Felicita, operated by Liberia-registered Vast Marine Inc. These vessels are said to have transported Iranian high-sulphur fuel oil and naphtha.

Another tanker, Remiz, owned by Marshall Islands-based Goldwave Maritime Services Inc, is reported to have carried Iranian crude to East Asia.

Two small product tankers, Ateela 1 and Ateela 2, owned by Iran-based Behengam Tadbir Qeshm Shipping and Maritime Services Co, were designated for transporting petroleum products on behalf of the National Iranian Oil Co.

Broader procurement network targeted

In addition to the vessels, OFAC designated nine individuals and entities based in Iran, Turkey and the United Arab Emirates. These parties are accused of facilitating the procurement of precursor chemicals and sensitive machinery for the IRGC and MODAFL.

“These sanctions seek to disrupt procurement networks that support Iran’s missile and UAV development, which Tehran continues to prioritise at the expense of the Iranian people,” OFAC said.