U.S. expands sanctions targeting Iran’s oil trade, maritime networks

US on Friday expanded its sanctions targeting Iran’s oil trade and maritime networks, issuing a new Iran-related general license and updating its Specially Designated Nationals (SDN) list with entities and oil tankers tied to Iran’s petroleum sector.

Meanwhile, US Office of Foreign Assets Control (OFAC) updated its SDN list, adding multiple shipping companies and nine oil tankers in alleged links with Iran. The move is expected to effectively block their U.S. property and prohibit U.S. citizens from engaging in transactions with them.

“OFAC is targeting nine shadow fleet vessels and their respective owners or management firms that have collectively transported hundreds of millions of dollars’ worth of Iranian oil and petroleum products to foreign markets,” the Treasury Department said Friday in a press release.