OFAC Issues New Sanctions Aimed at Venezuela’s Oil Sector
The U.S. Treasury Department on Wednesday imposed new sanctions on four companies it said were operating in Venezuela’s oil sector, along with associated oil tankers.
Energy
U.S. to Designate Venezuelan Government as Terror Group, Blockade Sanctioned Oil Tankers
U.S. President Donald Trump on Tuesday vowed to designate Venezuela’s government a “Foreign Terrorist Organization” (FTO) and ordered a “total and complete” blockade of sanctioned oil tankers moving into and out of the country.
How Russia’s ‘Shadow Fleet’ Keeps the Oil Flowing
A Russian “shadow fleet” tanker sanctioned by the UK, EU and U.S. continued transporting oil in late 2025, underscoring what an investigation by Follow the Money describes as the limited impact Western measures have had on the cash flow Moscow earns from crude exports.
Leaked Records Point to Sanctions-Busting Oil Network Supplying DPRK
An intricate network of Russian, North Korean, and Gulf-based companies has been quietly helping funnel hundreds of thousands of barrels of oil to North Korea in apparent violation of U.N. sanctions, according to a new investigation by OCCRP and its affiliates.
DOJ Probing Dubai-Based Iranian Oil Tycoon’s Global Banking Web
The U.S. Justice Department is investigating whether Iranian oil tycoon Hossein Shamkhani violated sanctions while using a global network of banks, according to Bloomberg.
How a NZ Maritime Insurer Purportedly Helped Provide Cover for Banned Oil Sales
A New Zealand–based marine insurer played a pivotal role in keeping a fleet of tankers carrying Iranian and Russian oil moving to Asian markets despite Western sanctions, according to a Reuters investigation that has prompted scrutiny from authorities in Wellington.
FinCEN Flags $9-Billion Iranian ‘Shadow Banking’ Network
The U.S. Treasury Department disclosed the existence of roughly $9 billion in 2024 financial activity tied to Iranian “shadow banking,” mapping a web of front companies and intermediaries used to sell sanctioned oil, launder illicit proceeds, and procure banned technology.
U.S. Slaps Sweeping Sanctions on Russia’s Lukoil and Rosneft as Ukraine Talks Stall
The United States imposed expansive new sanctions Wednesday on Russia’s two largest oil companies, Lukoil and Rosneft, escalating U.S. economic pressure as negotiations to end the war in Ukraine falter.
Mexican Cartel Turns to ‘Dark Fleet’ to Smuggle Fuel from U.S. and Canada
One of Mexico’s most powerful drug cartels is smuggling gasoline and diesel into the Port of Ensenada with the aid of a “dark fleet” tanker and a Houston-based company, according to an investigation by Reuters.