US Sanctions Target Iran's Oil Networks and 'Dark Fleet'

• •US sanctions target 17 companies and 8 oil tankers linked to Iran's oil networks.
• •The sanctions aim to disrupt funding for the IRGC and its regional proxies.
• •The measures are part of the US's 'Economic Fury' campaign against Iran's illicit activities.

On May 29, 2026, the US Department of the Treasury announced new sanctions against a network of companies and vessels linked to Iran, including an Indian national and 17 companies from various countries. The sanctions target entities involved in oil and petrochemical operations connected to the Islamic Republic and aim to disrupt funding for the Islamic Revolutionary Guard Corps (IRGC). Eight oil tankers registered under flags from Panama, the Marshall Islands, Cameroon, and San Marino are also affected. The sanctions are part of a broader strategy called 'Economic Fury' to combat Iran's illicit oil networks and maritime shipping operations. These actions are intended to enforce the US's 'maximum pressure' policy against Iran's oil transit and sanctions-evasion mechanisms.