The United States has announced new sanctions targeting Iran’s “shadow fleet,” penalizing over 30 individuals and vessels from multiple countries for their involvement in facilitating Iran’s oil trade.
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the State Department revealed sanctions against individuals and ships from various nations involved in the transportation and trading of Iranian oil products. Among those sanctioned are brokers from the UAE and Hong Kong, tanker operators and managers from India and China, as well as the head of the National Iranian Oil Company and Iranian Oil Terminals.
The sanctioned oil tankers have been responsible for transporting Iranian oil worth hundreds of millions of dollars.
“Iran continues to rely on a shadow network of vessels, carriers, and brokers to facilitate the sale of oil and fund its destabilizing activities. The U.S. is using all available tools to target every component of Iran’s oil logistics chain,” stated U.S. Secretary of the Treasury, Scott Bessent.
