OFAC Intensifies Sanctions on Iran-Linked Shipping Networks in Latest Economic Fury Action  

The United States continues to tighten the pressure on Iran’s oil trade. On May 29 2026 the Office of Foreign Assets Control (OFAC) added more Hong Kong-based companies and several tankers to its Specially Designated Nationals (SDN) list.   

These new sanctions target entities accused of helping sell Iranian crude oil to Chinese buyers.  

This latest move is part of the ongoing Economic Fury campaign aimed at cutting off revenue that supports the Iranian regime.  

Key Details of the New Sanctions  

OFAC targeted several Hong Kong entities for their role in shipping Iranian oil to so-called “teapot” refineries in China.  

These small independent refineries have been big buyers of discounted Iranian crude. The sanctions also hit various crude oil tankers chemical tankers and one LPG carrier.  

These vessels were allegedly involved in evading sanctions and moving hundreds of millions of dollars worth of oil. 

At the same time OFAC issued a general licence that allows limited wind-down and divestment transactions related to Lukoil. The agency also removed 76 old and outdated entries from the sanctions list to clean up its records. 

What This Means for Maritime and Trade Businesses 

Sanctions like these create real risks for shipowners, operators and traders in the global energy market.  

If your company unknowingly deals with a sanctioned vessel or entity, the consequences can be brutal  blocked assets, massive fines, and a real headache.  

OFAC has been cracking down hard lately, especially on Hong Kong-based facilitators and so-called shadow fleet tankers tied to China. It’s clear they’re keeping a very close eye on shipping routes in that region.  

For businesses in tanker operations, crude trading, or port services, this is a serious wake-up call.   

Even everyday, routine transactions can quickly turn into major compliance problems if the proper checks aren’t in place.  

How Buhk Global Can Help You Navigate Sanctions  

International sanctions are complicated and they shift all the time.   

One wrong move can spiral your entire operation into chaos  freezing your assets, triggering massive headaches, or landing you in serious legal trouble. 

At Buhk Global, we’ve got a team with real, hands-on experience in maritime law, sanctions compliance, and international trade regulations. We’ve been in the trenches, and we know exactly how to keep you protected.  

We know how to help you navigate these complexities and can help you stay protected.  

We help shipping companies, energy traders and financial institutions understand their risks and stay on the right side of the rules. 

Contact Bukh Global Today  

If your business operates in high-risk areas like energy shipping or international trade do not leave compliance to chance. Reach out to Bukh Global for expert advice and strong legal support.  

We are ready to review your operations and help protect your business in today’s challenging regulatory environment.