The United States has tightened its grip on Iran’s oil industry, adding more tankers and individuals to its list of sanctions. Among the latest targets is an aging oil tanker that was supposed to be scrapped. Now, because of US restrictions, that may no longer be possible.
The tanker in question is the Itaugua, a massive vessel that has been floating near Bangladesh, waiting to be dismantled. Scrapping old ships is a common practice when they become too old or expensive to operate. However, the US government has blocked this process by labeling the ship as part of Iran’s oil network.
The Itaugua is just one of many vessels caught in Washington’s crackdown on Iran’s energy sector. Alongside it, 10 other tankers and three tugboats have also been hit with sanctions. The US believes these ships have been helping Iran move oil to countries like China, despite existing restrictions.
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Why the US is Targeting These Tankers
The US government argues that Iran’s oil money is being used for harmful purposes. Officials say that Iran is using the profits from oil sales to fund activities that they see as dangerous. To stop this, they are making it harder for Iran to sell oil by limiting which ships can carry it.
Sanctions work by cutting off access to international banking and business. When a ship is sanctioned, companies around the world are less likely to buy oil from it or offer services like insurance and repairs. This can leave the ships stranded, with nowhere to go.
One of the more surprising ships on the list is the Seasky, an oil tanker that flies the flag of San Marino. This small European country is landlocked, meaning it has no coastline. However, its shipping register has grown quickly in recent years. The US is now questioning how some of these ships are being used.
The three tugboats added to the list have also played a role in moving Iranian oil. Tugboats help large ships transfer cargo at sea. The US says these particular tugs have been involved in secret ship-to-ship transfers, allowing Iran to keep selling oil despite restrictions.
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The Impact on Iran’s Oil Exports
Iran’s oil exports have already been affected by previous US sanctions. In 2024, Iran was shipping about 1.7 million barrels of oil per day. However, in the first two months of 2025, that number has dropped to around 1.35 million barrels per day.
Even when Iranian oil does find buyers, it is taking longer to reach them. Reports suggest that some of the oil shipped from Iran is sitting in storage tanks in Southeast Asia, waiting for buyers willing to take the risk of US penalties.
By continuing to target tankers and those helping Iran move oil, the US is making it harder for Iran to find ships willing to transport its crude. With fewer ships available, oil must be stored for longer periods, causing delays and financial losses.
For now, the Itaugua remains stuck off the coast of Bangladesh, uncertain of its fate. Whether it gets scrapped or remains floating, its future is now tied to US sanctions and international politics.
