US Sanctions Iranian Oil Vessels, But Stops Short of Maximum Pressure
Washington, D.C. - President Donald Trump's first sanctions package targeting Iranian oil vessels has fallen short of the "maximum pressure" campaign promised by his administration, according to industry experts and analysts.
The move, announced on Thursday, impacted one very large crude carrier and two Aframaxes that the Treasury Department alleges were involved in transporting Iranian oil to China. Additional entities and individuals were also sanctioned for facilitating the trade on behalf of Iran's Armed Forces General Staff and Sepehr Energy Jahan Nama Pars, a sanctioned front company.
In the lead-up to Trump's inauguration, shipping executives and oil traders expressed concerns about the potential for broad sanctions that could disrupt supply chains. They were wary of the impact on trade following the Biden administration's aggressive sanctions against Russia earlier this year.
However, recent statements from Trump suggest a softening stance on Iran. He has indicated a willingness to negotiate a new nuclear deal that would allow the country to "grow and prosper."
Among the sanctioned vessels is the CH Billion, a 21-year-old Aframax flagged in Panama. In 2024, it reportedly loaded over 700,000 barrels of Iranian crude from a Tehran-owned tanker off the coast of Singapore, a known location for ship-to-ship transfers. The vessel was also used to transport oil from Russia's Kozmino port following sanctions imposed on the fleet involved in that trade.
The other affected tankers are the Panama-flagged Gioiosa and the Hong Kong-flagged Star Forest. The Treasury Department also highlighted the Comoros-flagged tanker Siri, which has been operating under a false identity with its name physically concealed to evade sanctions.