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The move, announced Thursday, affected one very-large crude carrier and two Aframaxes that the Treasury Department said helped move Iranian oil to China. It also targeted several entities and individuals across different countries that were involved in the trade, which was on behalf of Tehran's Armed Forces General Staff and its sanctioned front company, Sepehr Energy Jahan Nama Pars.
In the days leading up to Trump's inauguration on Jan. 20, shipping executives and oil traders had been nervous about a potential big sanctions package aimed at crippling Tehran, given how vocal he was against the Islamic Republic during his first term.
They were worried that such measures would cause even bigger disruptions to supply chains that had already been in disarray after the Biden administration's aggressive moves against Russia in early January. The former president had also targeted the Iran-China oil trade with three rounds of sanctions late last year.
But market nerves have been eased somewhat in recent days, with Trump appearing to soften his stance on Iran, saying that he wants to work on a new nuclear deal that allows the country to 'peacefully grow and prosper.'
The newly sanctioned trio of vessels include the CH Billion, a 21-year-old Aframax that flies under Panama's flag. In 2024, it took on more than 700,000 barrels of Iranian crude from a Tehran-owned tanker in the waters off Singapore that's been known to host ship-to-ship transfers. More recently, the vessel was also used to ferry barrels from Russia's Pacific port of Kozmino after the fleet involved in that trade was heavily sanctioned last month.
The two other affected tankers were Panama-flagged Gioiosa and Hong Kong-flagged Star Forest.
Separately, Comoros-flagged tanker Siri was also singled out in the latest statement. According to the Treasury, the already-sanctioned vessel has been operating under a disguise after its Iranian owner falsified documents and physically hid its name to conceal its identity and pass off as a different tanker called New Prime.
--With assistance from Serene Cheong.
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