US Sanctions Over 50 Entities and Vessels Over Iran's Petroleum and LPG Exports

The United States has imposed sanctions on more than 50 entities, individuals, and vessels accused of assisting Iran in exporting petroleum and liquefied petroleum gas (LPG).

The sanctions target an international network that has been operating in violation of regulations, facilitating the supply of energy products to countries like Bangladesh and Sri Lanka.

On October 9, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced the new measures. According to OFAC, the sanctions are part of efforts to "reduce Iran's financial flows" and to cut off funding to groups designated as terrorists by the U.S. government.

The statement mentions that the sanctioned vessels and entities were involved in supplying two shipments of Iranian LPG to Bangladesh. Additionally, ongoing transportation activities related to these operations have been flagged.

It further states that with the help of this network, Iran is exporting billions of dollars worth of petroleum and petroleum products, a major revenue source for the Iranian government.

U.S. Treasury Secretary, Scott Bassett, said these new sanctions are aimed at "weakening Iran’s energy export activities," continuing Washington’s policy of "maximum economic pressure."

The new sanctions list includes two UAE-based entities—Slogal Energy DMCC and Markan White Trading Crude Oil Abroad LLC—accused of sending Iranian LPG shipments to South Asia starting from 2024. OFAC confirmed that multiple shipments sent through these entities eventually reached consumers in Bangladesh and Sri Lanka.

According to Treasury Department data, in early 2025, a Panama-flagged vessel, Gas Dior, delivered over 17,000 tons of Iranian LPG to Bangladesh. Additionally, towards the end of 2024, the Comoros-flagged vessel Ada (formerly Captain Nicholas) delivered Iranian LPG to buyers in Bangladesh. This vessel, owned by UAE-based Sea Ship Management LLC, was also added to the latest sanctions list.

Last year, on October 13, a small vessel named BLPG Sofia caught fire while unloading LPG at the outer anchorage of Chittagong Port. The ship, carrying about 34,000 tons of LPG, had been stranded for months due to legal complications before receiving permission to transfer gas again on September 5 of this year. Vessel tracking data indicates that the ship is still anchored at Chittagong Port.