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Sea of Maritime Insights

Today, as a part of Economic Fury, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated a prominent Iranian foreign currency exchange house and associated front companies that oversee hundreds of millions of dollars in transactions on behalf of sanctioned Iranian banks.  Collectively, Iranian exchange houses facilitate billions of dollars in foreign currency transactions each year, enabling the regime and its armed forces to evade sanctions, access the international financial system, and move funds derived from oil and petrochemical sales.  

OFAC today also blocked 19 vessels involved in Iranian petroleum and petrochemicals shipments to foreign customers, transactions that have generated hundreds of millions of dollars in revenue.  Together, today’s actions further reduce the revenue available to the Iranian regime to develop weapons, support terrorist proxies, and siphon funds outside Iran for personal enrichment.

The following vessels are being added to OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List) as blocked property of their designated owner or manager:

  • The Barbados-flagged liquified petroleum gas (LPG) tanker GREAT SAIL (IMO 9177583), which is owned by Hong Kong-based Great Sail Shipping Limited, has transported hundreds of thousands of barrels of Iranian petrochemicals since 2025.
  • The Palau-flagged products tanker OCEAN WAVE (IMO 9387152), which is owned by Liberia-based Ow Maritime Incorporated, has transported hundreds of thousands of barrels of Iranian naphtha since 2025.
  • The Panama-flagged chemical/oil tanker SWIFT FALCON (IMO 9246803), which is owned by Hong Kong-based Arden Angel Shipping Company Limited, has transported millions of barrels of Iranian naphtha since 2025.
  • The Hong Kong-flagged LPG tanker MIGHTY NAVIGATOR (IMO 9206396), which is owned by Hong Kong-based Verda Gas Co Ltd, has transported hundreds of thousands of barrels of Iranian LPG in 2026.
  • The Panama-flagged crude oil tanker MIDAS (IMO 9266841), which is owned by Marshall Islands-based Ocean Marvel Shipping Company Limited, has transported hundreds of thousands of barrels of Iranian oil in 2026.
  • The Panama-flagged chemical and oil tanker BRIGHT GOLD (IMO 9171503), which is owned by Hong Kong-based GS Chemical Transportation Limited, has transported millions of barrels of Iranian methanol since 2025.
  • The San Marino-flagged LPG tanker DOUBLE IN (IMO 8917807), which is owned by United Kingdom-based Science Obedient International Company Limited, has transported millions of barrels of Iranian LPG since 2025.
  • The Cameroon-flagged chemical/oil tanker NARSIS (IMO 9408358), which is owned by Liberia-based Sun Ocean Shipping Incorporated, has transported more than a hundred thousand barrels of Iranian high sulfur fuel oil since 2024.
  • The Comoros-flagged LPG tanker G JADES (IMO 9131096), which is owned by Hong Kong-based Gjades Shipping Company Limited, has transported hundreds of thousands of barrels of Iranian petrochemicals since 2024.
  • The Gabon-flagged LPG tanker GAS ENDURANCE (IMO 9240419), which is owned by Panama-based Aquila Worldwide Marine Developments Corp., has transported hundreds of thousands of barrels of Iranian LPG in 2026.
  • The Palau-flagged LPG tanker OCEAN RADIANCE (IMO 9194969), which is owned by Marshall Islands-based Aurora Business Company Limited, has transported millions of barrels of Iranian LPG since 2025.
  • The Panama-flagged LPG tanker QUANTUM STAR (IMO 9225342), which is owned by Marshall Islands-based Taurus Gas Company Limited, has transported hundreds of thousands of barrels of Iranian LPG since 2025.
  • The Panama-flagged LPG tanker GAS STRENGTH (IMO 9172636), which is owned by Marshall Islands-based Veinto Global Marine Inc,, has transported hundreds of thousands of barrels of Iranian LPG since late 2025.
  • The Vanuatu-flagged crude oil tanker FEADSHIP (IMO 9322279), which is owned by Marshall Islands-based Mozart Maritime Inc., has transported millions of barrels of Iranian oil since 2026.
  • The Cameroon-flagged crude oil tanker VASLATI (IMO 9252333), which is owned by Marshall Islands-based Splendid Lexy Trading Company Ltd, has transported millions of barrels of Iranian oil since late 2025.
  • The Cook Islands-flagged crude oil tanker DAKUSH (IMO 9278698), which is owned by Marshall Islands-based Mekong Lines Inc., has transported hundreds of thousands of barrels of Iranian naphtha since 2025.
  • The Panama-flagged crude oil tanker TEJAS (IMO 9326067), which is owned by St. Kitts and Nevis-based Romy Lines Incorporated, has transported millions of barrels of Iranian oil since 2026.
  • The Sierra Leone-flagged oil tanker LUNA LUSTER (IMO 9292187), which is owned by United Kingdom-based Global Fortune Shipping Limited, has transported millions of barrels of Iranian oil since mid-2025.
  • The Hong Kong-flagged chemical/oil tanker GALA ROSE (IMO 9126015), which is owned by British Virgin Islands-based Sparkling Courage Limited, has transported millions of barrels of Iranian LPG since 2023.
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