The US Treasury Department announced a fresh round of sanctions on Wednesday, February 25, 2026, targeting more than 30 individuals, entities, and vessels involved in Iran's illicit petroleum trade and weapons procurement networks.
The Office of Foreign Assets Control (OFAC) designated the targets for enabling Iran's so-called “shadow fleet”—a network of tankers and intermediaries that circumvent international restrictions to export Iranian crude oil and petroleum products to global markets. According to the Treasury, revenues from these sales are used to fund domestic repression, support armed proxy groups across the Middle East, and advance Iran's ballistic missile and advanced conventional weapons (ACW) programs.
The sanctions also focus on procurement networks linked to Iran's Islamic Revolutionary Guard Corps (IRGC) and the Ministry of Defense and Armed Forces Logistics (MODAFL). These networks are accused of sourcing precursor chemicals, sensitive machinery, and other dual-use materials essential for rebuilding and expanding Iran's ballistic missile production capabilities and ACW programs.
Treasury Secretary Scott Bessent stated: “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. We will continue to put maximum pressure on Iran to target the regime’s weapons capabilities and support for terrorism.”
The action builds on previous US efforts to disrupt Iran's shadow fleet, which has grown significantly since the reimposition of sanctions under the Trump administration and continued under subsequent US policies. The fleet often involves vessels that frequently change flags, ownership, or insurance arrangements to evade detection, with many operating without proper documentation or using deceptive shipping practices.
The latest designations include:
Additional tankers and shipping companies facilitating Iranian oil exports.
Entities and individuals involved in procuring dual-use goods for missile and weapons programs.
Front companies and intermediaries that obscure the origin and destination of shipments.
All designated persons and entities are subject to asset freezes in the US and prohibitions on dealings with US persons. Foreign financial institutions risk secondary sanctions if they facilitate significant transactions with the sanctioned parties.
The move comes amid heightened regional tensions, including ongoing indirect nuclear talks between the US and Iran mediated through Oman, US military deployments in the Middle East (including two carrier strike groups), and warnings from Washington that Iran will not be allowed to acquire nuclear weapons.
Iran has consistently denied pursuing nuclear weapons, insisting its program is for peaceful purposes, while rejecting accusations of supporting terrorism and describing US sanctions as economic warfare.
The Treasury's announcement is expected to further complicate Iran's ability to generate revenue through oil exports—its primary source of foreign currency—and to obtain restricted materials for its missile and conventional arms programs.
