U.S. Tightens Grip on Iran's Shadow Fleet with New Sanctions

The Biden administration increased sanctions on Iran, targeting 35 entities and vessels involved in transporting illegal Iranian oil. This move follows Iran's attack on Israel and nuclear activity escalation. The sanctions aim to disrupt Iran's economy and impair funding for its nuclear and missile programs.

The Biden administration intensified its sanctions on Iran on Tuesday, targeting 35 entities and vessels accused of transporting illegal Iranian petroleum to international markets, as part of what the U.S. Treasury describes as a 'shadow fleet.'

This action builds on sanctions imposed earlier this month, following Iran's October 1st attack on Israel and its recent nuclear developments, according to a U.S. Department of Treasury statement. Acting Under Secretary for Terrorism and Financial Intelligence, Bradley Smith, stated that Iran is channeling petroleum trade revenues into its nuclear program, ballistic missile technology, and regional terrorism, raising regional instability risks.

Smith emphasized the U.S. commitment to disrupting the shadow fleet facilitating these illegal activities by utilizing available tools and legal measures. These sanctions target crucial sectors of Iran's economy, aiming to cut off funding for its nuclear and missile endeavors. They also prohibit U.S. entities from business interactions with the targets and freeze any assets held within the U.S.

(With inputs from agencies.)