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US Sanctions Iran's Shadow Fleet
The US Treasury Department imposes sanctions on 29 vessels, part of a shadow fleet transporting Iranian oil, aiming to cut off funds for terrorism and illegal activities. The sanctions target a network of companies and ships operated by an Egyptian businessman and others in countries like UAE, India, Marshall Islands, and Panama. This action follows previous efforts to restrict Irans oil revenue, increasing costs for Iranian exporters and reducing revenue per barrel sold. The Treasury Department remains committed to depriving Iran of petroleum revenue for military and weapons programs, aligning with the policy to prevent Iran from developing nuclear weapons.
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Published on 2 weeks ago