TITLE: United States Office of Foreign Assets Control Designates Iranian Shipping Network Entities and Vessels
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On July 29, 2026, the United States Office of Foreign Assets Control (OFAC) added ten entities and eight vessels to its Specially Designated Nationals (SDN) List as part of enforcement action targeting what it described as Iran's Strait of Hormuz extortion network.
The designated entities include shipping management companies, maritime service providers, and insurance firms based in Hong Kong, the Marshall Islands, Shenzhen, and Iran. OFAC identified the entities as facilitating Iranian regime activities through the operation of crude oil and chemical tankers. The entities designated include Billion Nexus International Co., Limited; Branch Saying International Trading Co Ltd; Confident Apex Limited; Hormuzsafe Marine Services Authority; Marinova Freight Limited; Nevada Spirit Company Limited; Ocean Tranquility Limited; Persian Gulf Marine Insurance Company; Qi Hang Ship Management Limited; and Vast Mighty Limited. Two entities—Hormuzsafe Marine Services Authority and Persian Gulf Marine Insurance Company—are subject to secondary sanctions.
The eight vessels added to the SDN List are crude oil tankers and one chemical/products tanker, flagged to various jurisdictions including Barbados, Vanuatu, Mozambique, and the Marshall Islands. These vessels are linked to the designated entities. The vessels include Al Salmi, Breeze V, Crystal, Lily, Natsumi, Nireta, Well Sail, and Yehope. All designations fall under Executive Order 13902, which authorises sanctions related to Iran.
The designation prohibits U.S. persons and entities from engaging in transactions with the listed entities and vessels. Foreign financial institutions conducting significant transactions with designated parties may face secondary sanctions.