The targeted vessels – the San Marino-flagged Tulip BZ, Panama-flagged Maisan, and Panama-flagged White Whale – all delivered petroleum products to the Houthi-controlled port of Ras Isa after April 4, 2025, when OFAC’s general license 25A expired.
“Today’s action underscores our commitment to disrupt the Houthis’ efforts to fund their dangerous and destabilizing attacks in the region,” said Deputy Secretary of the Treasury Michael Faulkender.
OFAC said the Houthis control strategic Red Sea ports including Hudaydah, Ras Isa, and Al-Salif, where they profit from port revenue and the seizure of refined petroleum products. The group sells these products at inflated prices on Yemen’s black market, using the proceeds to fund military operations and creating artificial shortages for Yemeni civilians.
The vessels’ owners – Zaas Shipping & Trading Co, Bagsak Shipping Inc, and Great Success Shipping Co – have been designated under Executive Order 13224 for providing material support to the Houthis. The Houthis were designated as a Specially Designated Global Terrorist group in February 2024 and re-designated as a Foreign Terrorist Organization in March 2025.
Of particular concern is the Tulip BZ’s history of transporting petroleum products for Iran. Under its former name, Gas Line, the vessel transported petrochemical products for the Iranian Islamic Revolutionary Guards Corps (IRGC). The Maisan has been involved in exporting Russian crude oil since February 2023.
The sanctions block all U.S.-based property and interests of the designated entities and prohibit U.S. persons from engaging in transactions with them. Additionally, foreign financial institutions risk secondary sanctions for knowingly conducting significant transactions with these designated entities.
