The U.S. imposed sanctions on over 30 individuals and vessels involved in Iran’s oil trade, targeting brokers from the UAE and Hong Kong, and firms in India and China. This initiative seeks to curb Iran’s financial support for its nuclear and missile activities and prevents U.S. entities from engaging in business with the sanctioned parties.
The United States has sanctioned over 30 individuals and vessels connected to the sale and transportation of Iranian petroleum products, as reported by the Treasury Department. Among those targeted are oil brokers based in the UAE and Hong Kong, tanker operators from India and China, and leadership from Iran’s National Iranian Oil Company and the Iranian Oil Terminals Company.
These sanctioned vessels are responsible for shipping significant quantities of crude oil valued at hundreds of millions of dollars. Treasury Secretary Scott Bessent emphasized that Iran operates through a “shadowy network” to disguise its oil sales and finance destabilizing activities.
The sanctions, which build on existing measures from the Biden administration, aim to limit Iran’s economic capabilities, particularly regarding funding for its nuclear and missile development. These actions prohibit any business interaction between U.S. individuals or entities and the sanctioned parties, alongside freezing any U.S.-held assets tied to them.
In summary, the U.S. has intensified its sanctions on Iran’s illicit oil trade, targeting a wide range of individuals and sectors involved in the operation of Tehran’s shadow fleet. This move reflects ongoing efforts to cut off funds that support Iran’s controversial nuclear and missile programs, thereby aiming for greater stability in the region.
Original Source: www.jpost.com
