OFAC blocks Hormuz insurance firms and eight Iran-linked tankers

On July 29, 2026, the U.S. Department of the Treasury's Office of Foreign Assets Control designated two Iranian maritime-insurance and service firms, eight shipping companies, and eight associated tankers under Executive Order 13902.

OFAC added Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority for operating in Iran's financial sector. Treasury says Persian Gulf Marine Insurance Company brokers policies approved by the previously designated Persian Gulf Strait Authority for vessels transiting the Strait of Hormuz. Hormuz Safe advertises insurance, traffic control, security, and emergency-response services for Strait transits and accepts Bitcoin and other digital assets.

OFAC also designated Qi Hang Ship Management Limited, Marinova Freight Limited, Vast Mighty Limited, Ocean Tranquility Limited, Branch Saying International Trading Co Ltd, Confident Apex Limited, Billion Nexus Int'l Co., Limited, and Nevada Spirit Company Limited for operating in Iran's petroleum sector.

The identified blocked vessels are WELL SAIL (IMO 9321938), NATSUMI (IMO 9331244), CRYSTAL (IMO 9223887), NIRETA (IMO 9237785), YEHOPE (IMO 9243320), LILY (IMO 9294331), AL SALMI (IMO 9298296), and BREEZE V (IMO 9259355). Treasury identifies WELL SAIL as a chemical/products tanker and the other seven as crude-oil tankers.

Treasury states that property and interests in property of the designated or blocked persons that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. The restrictions also reach entities owned, directly or indirectly and individually or in the aggregate, 50 percent or more by one or more blocked persons. Unless authorized or exempt, U.S. persons and transactions within or transiting the United States generally may not involve blocked property or interests in property.

The Federal Register notice published August 5 confirms the July 29 designations and identifies the same blocked persons and vessels under Executive Order 13902. It is a publication of the existing July 29 action, not a second sanctions event.

Action items

• Rescreen vessels by both current name and IMO number; vessel names and flags can change while IMO numbers persist.
• Check owners, operators, managers, charterers, brokers, maritime insurers, port agents, and payment recipients against the July 29 additions.
• Escalate any request to use Hormuz Safe or Persian Gulf Marine Insurance Company for a Strait of Hormuz transit.
• Review beneficial ownership for counterparties linked to the designated shipping companies.
• Pause a potential match before providing cargo, funds, insurance, bunkering, port, or other maritime services and obtain sanctions guidance.