Treasury Targets Iran’s Shadow Fleet, Networks Supplying Ballistic Missile and ACW Programs in International Shipping News 28/02/2026 This week, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned over 30 individuals, entities, and vessels enabling illicit Iranian petroleum sales and Iran’s ballistic missile and advanced conventional weapons (ACW) production, as part of Treasury’s ongoing campaign of maximum pressure on Iran. Specifically, OFAC targeted additional vessels operating as part of Iran’s shadow fleet, which transport Iranian petroleum and petroleum products to foreign markets and serve as the regime’s primary source of revenue for financing domestic repression, terrorist proxies, and weapons programs. OFAC also targeted multiple networks that enable Iran’s Islamic Revolutionary Guard Corps (IRGC) and Ministry of Defense and Armed Forces Logistics (MODAFL) to secure the precursor materials and sensitive machinery required to reconstitute ballistic missile and ACW production capacity, as well as proliferate unmanned aerial vehicles (UAVs) to third countries. “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,” said Secretary of the Treasury Scott Bessent. “Under President Trump’s strong leadership, Treasury will continue to put maximum pressure on Iran to target the regime’s weapons capabilities and support for terrorism, which it has prioritized over the lives of the Iranian people.” Today’s action is being taken pursuant to Executive Order (E.O.) 13902, which authorizes sanctions on key sectors of Iran’s economy; E.O. 13382, which authorizes sanctions on weapons of mass destruction (WMD) proliferators and their supporters; and E.O. 13949, which authorizes sanctions on property of certain persons with respect to the conventional arms activities of Iran. This action is in furtherance of the President’s National Security Presidential Memorandum 2 (NSPM-2), which undergirds Treasury’s continued campaign of maximum economic pressure against Iran’s shadow banking, money laundering, weapons proliferation, and sanctions evasion networks and has impacted the Iranian regime’s ability to sell its petroleum to support its destabilizing behavior and recoup those funds. In 2025, OFAC sanctioned more than 875 persons, vessels, and aircraft as part of this campaign. SHADOW FLEET VESSELS TRANSPORTING IRANIAN PETROLEUM Today, OFAC intensified pressure on the Iranian shadow fleet, targeting 12 shadow fleet vessels and their respective owners or operators that have collectively transported hundreds of millions of dollars’ worth of Iranian petroleum and petrochemical products. Instead of allocating this revenue for the benefit of the Iranian people, the regime ultimately siphons it off to fund regional terrorist proxies, weapons programs, and repressive security services, rather than the basic economic needs the Iranian people have repeatedly and courageously demanded. The following vessels are linked to years of transporting Iranian petroleum and petrochemical shipments, including significant volumes in 2025 that continue into 2026: The Panama-flagged HOOT (IMO 9267962), owned by Panama-based Poros Maritime Ventures S.A., transported hundreds of thousands of barrels of Iranian liquified petroleum gas (LPG) to Bangladesh in 2025. The Barbados-flagged OCEAN KOI (IMO 9255933), owned b