NEW FUSION

NEW FUSION is a Panama-flagged oil products tanker designated to the US Office of Foreign Assets Control (OFAC) Specially Designated Nationals (SDN) list on 1 May 2026, as part of a broader sanctions package targeting Iran's ability to circumvent the Strait of Hormuz Toll System. The vessel was named alongside three Iranian foreign exchange houses in OFAC's General Licence W announcement, which also identified Bonyad Mostazafan and Iranian embassy accounts as prohibited channels for Hormuz toll payments under E.O. 13902 and E.O. 13224.

Oil products tankers operating under Panama or other flags of convenience have been a consistent sanctions-evasion vector in the Iran conflict, moving refined petroleum products or crude between intermediary ports to obscure Iranian origin. Designation to the SDN list prohibits US persons from transacting with the vessel and can block it from major ports, insurance markets, and ship-to-ship transfer anchorages that serve US-aligned financial systems.

The NEW FUSION designation is part of Washington's effort to close off Iran's alternative payment and shipping channels as Ceasefire negotiations continue. The vessel's designation signals that OFAC is targeting not just major tanker fleets but individual vessels acting as conduits for sanctioned Iranian funds or cargo.