US New Iran Sanctions Target Marine Insurers and Tankersby Ship & Bunker News TeamThe US has sanctioned more than 100 ships linked to Iranian shadow fleet since the start of this year. File Image / PixabayThe US has expanded its sanctions on Iran's maritime sector by targeting marine insurers and tankers linked to the country. The OFAC designated Persian Gulf Marine Insurance Company (PGMIC) and HormuzSafe Marine Services Authority, alleging they operated an insurance scheme that forced commercial vessels transiting the Strait of Hormuz to purchase regime-backed maritime cover. According to the Treasury, the insurance purported to protect ships against risks such as vessel seizures, while generating revenue for the IRGC. The sanctions also cover eight tankers and their owners or operators accused of transporting millions of barrels of Iranian crude oil and petroleum products to destinations including China and the UAE.