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The court, in a separate ruling, also annulled the bans on Ocean Capital Administration, an Iranian shipping line, and a number of other companies linked to the Islamic Republic of Iran Shipping Lines (IRISL).
Islamic Republic of Iran Shipping Lines has announced that the country has raised its exports of liquefied petroleum gas (LPG) by 15 percent between August and September to 300,000 metric tonnes.
The US regulators are investigating the bank's alleged transactions for the Islamic Republic of Iran Shipping Lines, despite knowing that the company was sanctioned, the report said, adding that the shipping company has been under US economic sanctions since 2008, for allegedly supporting Iran's proliferation of weapons of mass destruction.
Its sister company, the Islamic Republic of Iran Shipping Lines, often changes the names of its cargo vessels.
The Islamic Republic of Iran Shipping Lines (IRISL) and its subsidiaries operate most of the cargo vessels.
Bank Tejarat was penalized for providing financial services to the Islamic Republic of Iran Shipping Lines and other entities already sanctioned for their involvement with the country's nuclear program.
In the latest such move, the US Treasury Department said on Tuesday it was expanding sanctions to include 10 "shipping and front companies and one individual based in Malta" affiliated with the Islamic Republic of Iran Shipping Lines.
The Islamic Republic of Iran Shipping Lines (IRISL), its regional offices and affiliates as well as five individuals were charged in the 319 count indictment with using corporate shells and aliases to "exploit the services of financial institutions located in Manhattan," said Vance.