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Strait of Hormuz crisis Sanctions VLCC

Ofac designates more Iran-linked firms and tankers in latest Economic Fury sanctions

  • Several Hong Kong-based entities were targeted for facilitating Iranian crude oil sales
  • Various crude oil and chemical tankers, as well as one LPG carrier were added to the SDN list
  • A general licence allows limited Lukoil-related wind-down and divestment transactions
  • Ofac also removed 76 outdated entries from the sanctions list

  • Analysis

Entities were involved in facilitating shipments to Chinese teapot refineries. But it is unlikely to dampen their interest in Iranian crude as the discount to mainstream barrels are too good to pass on

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