US Targets Iran's Shadow Fleet with New Sanctions

The United States imposed sanctions on 29 vessels and management firms linked to Iran's oil exports. These sanctions target the 'shadow fleet,' which Washington claims uses deceptive practices. This move is part of the U.S. strategy to restrict Iran's petroleum revenue used for its military programs.

The United States intensified its stance against Iran by imposing sanctions on 29 vessels and their managing companies on Thursday, targeting Tehran's 'shadow fleet.' These vessels allegedly export Iranian oil through fraudulent practices, according to the U.S. Treasury. The action reflects Washington's efforts to curb Iran's petroleum revenue, which it claims funds Iran's military endeavors.

The 'shadow fleet' comprises ships operating under obscured ownership and lacking necessary insurance, thus sidestepping international regulations. John Hurley, the U.S. Treasury's undersecretary for terrorism and financial intelligence, stated the administration's resolve: 'We will continue to deprive the regime of the petroleum revenue it uses to fund its military and weapons programs.'

The sanctions also apply to Egyptian businessman Hatem Elsaid Farid Ibrahim Sakr and his companies, linked to seven of the listed vessels. This move follows recent U.S. actions against a tanker carrying Venezuelan oil, illustrating the escalating tensions between Washington and both Tehran and Caracas over restricted oil dealings.

(With inputs from agencies.)