US Hits Iranian Shadow Fleet with New Sanctions

The United States has imposed sanctions on over 30 individuals and vessels involved in the sale and transport of Iranian petroleum products. The Treasury Department aims to cut funding for Iran's nuclear and missile programs by targeting key oil brokers and ship operators of Iran's 'shadow fleet.'

The United States government has announced fresh sanctions against more than 30 people and vessels involved in the distribution of Iranian petroleum-related products. The sanctions come as part of ongoing efforts to stifle Tehran's 'shadow fleet,' according to the U.S. Treasury Department.

The Treasury has strategically targeted oil brokers based in the United Arab Emirates and Hong Kong, tanker operators and managers in India and China, as well as the leadership of Iran's National Iranian Oil Company and the Iranian Oil Terminals Company. Sanctioned vessels reportedly ship tens of millions of barrels of Iranian crude oil, generating revenue in the hundreds of millions of dollars.

'Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales and fund its destabilizing activities,' said Treasury Secretary Scott Bessent, explaining the rationale behind the sanctions. These measures mirror those previously imposed by the Biden administration and aim to restrict Iran's ability to fund its nuclear and missile programs by denying them economic resources.