Washington: The United States on Friday announced a new round of sanctions targeting what it described as Iran’s “shadow fleet,” as Washington moved to further restrict revenue streams it says are being used to repress the Iranian people and finance destabilising activities abroad.
The Treasury imposed sanctions on eight entities and nine vessels involved in transporting Iranian petroleum and petroleum products, including liquefied petroleum gas.
Treasury Secretary Scott Bessent said the measures are aimed at cutting off a key source of funding for repression. “The Iranian regime is engaged in a ritual of economic self-immolation—a process that has been accelerated by President Trump’s maximum pressure campaign,” Bessent said.
“Tehran’s decision to support terrorists over its own people has caused Iran’s currency and living conditions to be in free fall,” he added. “Today’s sanctions target a critical component of how Iran generates the funds used to repress its own people.”
The Office of Foreign Assets Control said the vessels have carried Iranian crude oil, LPG, fuel oil, naphtha, condensate, and methanol to destinations including East Asia, Pakistan, Bangladesh, Somalia, Djibouti, and the United Arab Emirates over recent years.
Among the vessels identified are SEA BIRD, AVON, AL DIAB II, CESARIA, LONGEVITY 7, EASTERN HERO, AQUA SPIRIT, CHIRON 5, and KEEL. The designated companies include shipping and management firms based in jurisdictions ranging from the United Arab Emirates and India to Oman, the Marshall Islands, Liberia, and Seychelles.
“These entities have shipped hundreds of millions of dollars’ worth of Iranian petroleum and petroleum products, including liquefied petroleum gas (LPG), helping finance the regime and its security forces,” said Principal Deputy Spokesperson Tommy Pigott.
The action comes amid widespread protests in Iran over economic conditions and governance. Pigott said that while “the Iranian people protest the Iranian regime’s catastrophic economic mismanagement,” the government continues to fund “foreign proxies and missiles over the basic needs of Iranians.”
He pointed to “massive inflation, crumbling infrastructure, and water and electricity shortages” as signs that “Iranians are not seeing their wealth put to good use,” adding that “the Iranian regime refuses to put Iranians first.”
The sanctions target vessels and companies that have collectively transported hundreds of millions of dollars’ worth of Iranian oil and petroleum products to foreign markets, the Department of the Treasury said.
As a result of the designations, all property and interests in property of the blocked persons within US jurisdiction are frozen and must be reported to OFAC. US persons are generally prohibited from engaging in transactions involving the designated entities and vessels without authorisation.
Treasury warned that violations of US sanctions may result in civil or criminal penalties and that foreign persons and financial institutions may also face exposure for engaging in certain transactions involving blocked parties.
–IANS
