Treasury Freezes Iranian Oil Tankers and Owner's Assets
Published Date: 4/16/2025
Notice
Summary
The U.S. Treasury’s OFAC just blocked Jugwinder Singh Brar and two oil tankers linked to him because of their ties to Iran’s petroleum sector. This means all their U.S.-related property is frozen, and Americans can’t do business with them. The action took effect on April 10, 2025, so watch out for any transactions involving these names or vessels!
Analyzed Economic Effects
3 provisions identified: 0 benefits, 3 costs, 0 mixed.
U.S. persons barred from dealing with SDNs
On April 10, 2025, OFAC added named persons to the Specially Designated Nationals (SDN) List. All property and interests in property subject to U.S. jurisdiction of those listed persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.
Multiple tankers added to SDN List
OFAC placed 28 named vessels on the SDN List (for example, GLOBAL ELEGANCE, IMO 9232955; GLOBAL EMERALD, IMO 8982888), identifying them as property in which blocked persons have an interest. These designations took effect on April 10, 2025 and make transactions involving those vessels subject to U.S. blocking rules.
Entities linked to Brar designated and blocked
OFAC designated entities linked to the listed persons—such as GLORY INTERNATIONAL FZ-LLC, GLOBAL TANKERS PRIVATE LIMITED, and PRIME TANKERS LLC—and identified vessels as property in which these entities have an interest. The blocking of their property and prohibitions on U.S. persons took effect on April 10, 2025.
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Key Dates
Department and Agencies
Related Federal Register Documents
2026-20683, Notice of OFAC Sanctions Actions
The U.S. Treasury’s OFAC just updated its sanctions list on October 5, 2026. Some people had their blocked property unlocked and were removed from the blacklist, while others had their info updated but remain blocked. These changes affect who can access money or property under U.S. rules, so watch for the latest details if you’re involved.
2026-20526, Notice of OFAC Sanctions Actions
The U.S. Treasury’s OFAC just updated its sanctions lists by unblocking some people and removing their names from the banned list. They also cleaned up duplicate entries and updated info on others who remain blocked. These changes affect individuals and entities tied to sanctions, with some unblocked as of July 27, 2026, meaning their assets are no longer frozen.
2026-20525, Notice of OFAC Sanctions Action
The U.S. Treasury’s OFAC just blocked the property of Faouzi Barika and others linked to Hamas, making it illegal for Americans to do business with them. This action, effective October 2, 2026, freezes their assets under U.S. law to stop support for terrorism. If you’re a U.S. person, watch out—any dealings with these folks are off-limits and could have serious consequences.
2026-20475, Notice of OFAC Sanctions Action
On October 1, 2026, the U.S. Treasury’s OFAC added new individuals and companies to its blacklist, freezing their U.S.-based assets. This means Americans can’t do business with these blocked parties, cutting off their access to U.S. money and markets. The move aims to tighten financial controls and protect U.S. interests.
2026-20425, Notice of OFAC Sanctions Action
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