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A counterparty screens clean. The name returns no hits on the Specially Designated Nationals list, the company is registered in a jurisdiction with no sanctions program against it, and the vessel it owns has never appeared on a designation notice. None of that tells you the company is not sanctioned. Under the ownership rules applied by the United States, the European Union, and the United Kingdom, an entity can be subject to an asset freeze without ever being named, purely b

On Sunday August 23, the Persian Gulf Strait Authority published its first Non-Compliant Vessels list. Announced through the body's X account and hosted on its website, the list names vessels Iran says have violated its arrangements for transiting the Strait of Hormuz and warns that they face restrictions on future passages including fines, detention, seizure, or confiscation. Shipping companies, the statement said, must review the list before chartering in order to avoid pot

[Image: USCGC Munro (WMSL-755), the cutter that pursued the Bella 1 across the Atlantic] On August 7, 2026, a 47-year-old Georgian national named Avtandil Kalandadze was sentenced in the U.S. District Court for the District of Columbia to ten months in federal prison. He will be deported when the term is served. The coverage framed it as a shadow fleet prosecution, which it is. What the coverage mostly did not say is that Kalandadze was not convicted of a sanctions offense. H

There is a version of the shadow fleet story that treats it as somebody else's problem. Sanctioned states move sanctioned oil on ships nobody reputable would touch, Western regulators chase them with designations, and operators running clean tonnage on legitimate trades watch from a safe distance. That version is wrong in a specific and expensive way. The shadow fleet now represents a large enough share of global tanker capacity that legitimate operators share water, anchorag

Anyone who built a Venezuela compliance policy eighteen months ago is working from a document that is now actively misleading. In the space of six months the United States has gone from maintaining one of its most restrictive sanctions programs, including a quarantine of shadow fleet tankers lifting Venezuelan crude, to issuing more than a dozen general licenses that specifically authorize chartering vessels, obtaining marine insurance, and dealing with Venezuelan port author