Washington, July 29, 2026 (Yes Punjab News)
The United States has imposed fresh sanctions on two Iranian maritime service companies and eight tanker-operating firms, accusing them of helping the Islamic Revolutionary Guard Corps (IRGC) generate revenue through an alleged maritime protection network in the Strait of Hormuz.
According to the US Treasury and State Departments, the sanctions target the Persian Gulf Marine Insurance Company and the HormuzSafe Marine Services Authority. US authorities allege that the two entities operate an insurance and protection system that charges commercial vessels for coverage against risks, including vessel seizures, which Washington claims are largely created by Iran itself.
State Department spokesperson Tommy Pigott said the sanctioned entities profit by creating security risks and then offering protection against those threats, with the proceeds allegedly supporting IRGC activities and Iran’s broader regional operations.
Treasury Secretary Scott Bessent said the latest measures are aimed at preventing Tehran from using international shipping to finance the IRGC.
US authorities further alleged that the Persian Gulf Marine Insurance Company brokers insurance policies approved by the IRGC-backed Persian Gulf Strait Authority, which was sanctioned earlier this year. HormuzSafe, they said, offers insurance, traffic control, security and emergency services for vessels transiting the Strait of Hormuz and accepts Bitcoin and other digital assets, allegedly to circumvent Western sanctions.
The sanctions also extend to eight companies based in China, Hong Kong and the Marshall Islands that operate tankers accused of transporting millions of barrels of Iranian crude oil and petroleum products, primarily to China and the United Arab Emirates, between 2022 and 2026.
The vessels identified by the US are Well Sail, Lily, Al Salmi, Breeze V, Natsumi, Crystal, Nireta and Yehope. They sail under the flags of Barbados, Mozambique, Vanuatu and the Marshall Islands, while one vessel is listed with an unknown flag.
The State Department described the ships as part of Iran’s “shadow fleet”, alleging they are used to evade international sanctions. It added that the latest designations support ongoing US efforts to curb Iranian oil exports and disrupt maritime networks linked to the IRGC. According to US officials, more than 100 vessels connected to Iran’s shadow fleet have been sanctioned this year.
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