The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) has updated its Specially Designated Nationals and Blocked Persons List (SDN List). This list now includes certain people and vessels whose property and interests are blocked under U.S. law due to their connections with sanctioned entities. U.S. individuals and entities are generally prohibited from engaging in transactions with those listed. This action, effective February 24, 2025, includes several crude oil tankers linked to blocked companies under Executive Order 13902.
Simple Explanation
The government has made a list of people and ships that it's not okay to do business with because they broke some important rules. This means if these people or ships have things in the U.S., those things are put on pause and can't be used.