The United States has imposed sanctions against Iran on more than 30 persons and vessels in multiple jurisdictions for their role in brokering the sale and transportation of Iranian petroleum-related products.
The vessels sanctioned on Monday are responsible for shipping tens of millions of barrels of crude oil valued in the hundreds of millions of dollars, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) said.
The sanctions target, among others, oil brokers in the United Arab Emirates (UAE) and Hong Kong, tanker operators and managers in India and China.
The U.S. Department of State is designating eight entities based in Iran, India, Malaysia, Seychelles, and the UAE for their involvement in the sale, purchase, and transportation of Iranian petroleum.
Additionally, eight vessels are being identified as blocked property in which these entities have an interest.
“Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales and fund its destabilizing activities,” said Secretary of the Treasury Scott Bessent. “The United States will use all our available tools to target all aspects of Iran’s oil supply chain, and anyone who deals in Iranian oil exposes themselves to significant sanctions risk.”
The sanctions build on those imposed by the Biden administration.
The penalties aim to block them from using the U.S. financial system and prohibit American citizens from dealing with them.
As reported, violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons. OFAC may impose civil penalties for sanctions violations on a strict liability basis.
