The United States has announced a new round of sanctions targeting entities involved in the trade of Iranian petroleum. This move is part of an ongoing effort to curtail Iran's oil exports, which are believed to fund activities deemed destabilizing by the U.S. government.
Under National Security Presidential Memorandum/NSPM-2, initially part of President Trump's maximum pressure campaign on Iran, the U.S. Department of State and the Department of the Treasury have imposed sanctions under Executive Orders 13846 and 13902. These measures aim to block revenue streams that support Iran's nuclear program and regional conflicts.
The latest actions include sanctions against a crude oil storage terminal located in Huizhou, China. The facility reportedly stored Iranian-origin crude oil delivered by a tanker known as NICHOLA, formerly named SPIRIT OF CASPER. The vessel offloaded approximately one million barrels of Iranian crude at this terminal in late January 2025.
According to reports, NICHOLA engaged in ship-to-ship transfers with SALINA, an Iran-flagged tanker associated with the NATIONAL IRANIAN TANKER COMPANY (NITC), transferring petroleum loaded from Kharg Island, Iran. The terminal owned by HUAYING HUIZHOU DAYA BAY PETROCHEMICAL TERMINAL STORAGE CO., LTD (HUAYING PETROCHEMICAL) has reportedly received multiple shipments from Iran since March 2021.
The U.S. government emphasizes that these sanctions mean all property and interests belonging to designated persons within U.S. jurisdiction are blocked and must be reported to the Office of Foreign Assets Control (OFAC). Transactions involving these blocked persons are prohibited unless specifically authorized by OFAC.
Officials stress that while sanctions serve as a tool for change rather than punishment, there remains a pathway for removal from the Specially Designated Nationals and Blocked Persons List through formal petitions.
For those seeking removal from this list, guidance is available through OFAC’s Reconsideration process or via the Department of State’s Delisting Guidance page.
