The United States government has recently taken strong action against a network of companies and shipping operators that help Iran’s military sell oil, aiming to cut off the funds used for rebuilding its armed forces.
At the centre of this crackdown is RN Ship Management Private Limited, a Mumbai-based company led by Indian nationals Zair Husain Iqbal Husain Sayed and Zulfikar Hussain Rizvi Sayed.
US Treasury tightens sanctions on Iran's shadow oil network, Indian firm among those targeted
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This firm has operated several vessels, including the tanker SOBAR, to transport crude oil for Sepehr Energy Jahan Nama Pars, the oil sales arm of Iran’s Armed Forces General Staff.
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) targeted this network as part of a broader campaign addressing Iran’s “shadow fleet”, a collection of ships used to secretly transport Iranian oil around the world. The shadow fleet helps Iran disguise its oil shipments through front companies, multiple intermediaries, and falsified documentation, sometimes labelling the oil as Malaysian heavy crude. This system allows Iran to sell billions of dollars’ worth of oil at steep discounts to buyers in Asia, despite sanctions.
Along with RN Ship Management, the sanctions extended to companies and vessels based in the UAE, Panama, Greece, Germany, and India. These include entities like Luan Bird Shipping, Mars Investment, Moon Line Plastics, Loire Shipping, Altomare SA, Alsafeenah Althahabya Ship and Boats Spare Parts Trading, and others, all providing various services such as chartering, ship-to-ship transfers, cargo handling, and logistics support. Some of these companies have been involved in complex schemes to hide the ownership of ships and manipulate vessel tracking systems.
The US government emphasises that disrupting these oil sales is crucial for reducing the revenue Iran uses to finance its nuclear ambitions and support for terrorist groups in the Middle East. Treasury Secretary Scott Bessent stated that this effort is part of a sustained “maximum-pressure” campaign that has already resulted in over 170 vessels being blacklisted.
This latest round of sanctions also includes further penalties on Iran’s Mahan Air, which has been linked to the IRGC-Qods Force and their support for militant groups across the region. The overall impact of these sanctions has been to raise operational costs for Iran’s oil shipments and reduce the income Iran earns per barrel, complicating Tehran’s ability to fund its military and destabilising activities.
The US crackdown targets a complex global network of companies and vessels enabling Iran’s military oil trade, aiming to choke off funding that supports Iran’s nuclear program and regional proxies.
