The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has introduced extensive sanctions against Iran’s clandestine shipping operations, designating 29 vessels and multiple shipping firms that facilitate the transport of Iranian petroleum through misleading methods. This move also affects Egyptian businessman Hatem Elsaid Farid Ibrahim Sakr and several of his companies based in the UAE, as part of ongoing efforts to hinder Iran’s financial resources that support its military and nuclear initiatives.
Treasury Under Secretary John K. Hurley reiterated that the U.S. remains committed to preventing Iran from obtaining nuclear weapons. Since resuming office, the Trump Administration has imposed sanctions on over 180 vessels involved in shipping Iranian oil, thus aiming to elevate costs for Iran’s oil exporters and lower its revenues. The targeted vessels carry a variety of Iranian petroleum products, including crude oil and naphtha, under the management of firms largely established for this purpose.
Among the sanctioned entities, UAE’s Phoenix Ship Management FZE operates several vessels that have transported substantial amounts of Iranian oil in 2025. The sanctions also affect Sakr’s management of tankers involved in the transportation of Iranian products. Notably, one of his ships was linked to a ship-to-ship transfer of Iranian condensate alongside an entity associated with Iran’s military.
This action aligns with Executive Order 13902, which focuses on Iran’s petroleum sector, and demonstrates a sustained campaign for maximum economic pressure on the nation. As a result of these sanctions, U.S. persons are barred from dealings with the designated individuals and entities, reinforcing the strategy to disrupt Iran’s oil revenue vital for its military rebuilding, especially following its recent conflict with Israel.
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