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GMS Receives First US Permit to Purchase Iran-Sanctioned Vessels

Ship recycling firm GMS has secured the first U.S. authorization to purchase vessels sanctioned in connection with Iran. This marks a shift in American enforcement policy. The approval follows a Treasury Department settlement with Adani Enterprises over purchases of sanctioned Iranian energy between November 2023 and June 2025. Maritime activity through the Strait of Hormuz remains severely constrained, with commercial traffic limited largely to Iranian-affiliated operators. However, select foreign shipments have resumed movement through the waterway, including liquefied natural gas exports to India—the first such departure since regional tensions escalated. Abu Dhabi's state oil company has also been discretely transporting energy supplies using its own fleet to reach international buyers amid the geopolitical standoff.