U.S. Treasury Sanctions Iranian Maritime and Air Networks

The United States Department of the Treasury expanded its sanctions campaign against Iran between July 29 and 30, 2026, targeting maritime and aviation networks used to fund the Islamic Revolutionary Guard Corps (IRGC). The Treasury's Office of Foreign Assets Control designated two insurance entities, the Persian Gulf Marine Insurance Company and HormuzSafe Marine Services Authority, alleging they coerced vessels in the Strait of Hormuz to purchase regime-backed insurance. The U.S. further sanctioned eight tankers for transporting Iranian oil to China and the United Arab Emirates, contributing to a 2026 total of over 100 sanctioned vessels.

On July 30, the Treasury extended these measures to six entities and individuals across China, India, Russia, and Iran supporting Mahan Air, a carrier used by the IRGC to transport weapons and drones. Additionally, the U.S. sanctioned DadeNegar Startup Studio, an IRGC-affiliated front company accused of soliciting the locations of American and Israeli equipment for military targeting.

These sanctions coincide with a drone strike on gas vessels in Damietta, Egypt, which officials suggest may open a new conflict front and threaten navigation through the Suez Canal. Treasury Secretary Scott Bessent stated that the regime is desperate for cash due to an economy in freefall and triple-digit inflation.