The US Treasury Department announced on Thursday that it has imposed new sanctions on 17 ships that are part of Iran's "shadow fleet," a network of oil tankers used to transport Iranian oil and petroleum products to external markets. The move is part of the Treasury's "Economic Outcast" operation, aimed at disrupting Iran's oil exports. The targeted ships are responsible for transporting millions of barrels of Iranian crude oil and petroleum products to markets in South and East Asia.
According to the Treasury Department, the targeted ships are part of a network of vessels that have been used to evade US sanctions on Iran's oil exports. The department's Office of Foreign Assets Control (OFAC) has taken action against the remaining ships in the "shadow fleet," which continues to transport Iranian oil and petrochemicals despite US sanctions. The Treasury Department said that the sanctions aim to choke off the Iranian regime's access to funds used to finance its military activities.
US Treasury Secretary Scott Mnuchin said that the Treasury Department is targeting the financial networks that enable Iran's oil exports, which help fund the regime's military activities. Mnuchin emphasized that the US will continue to identify and target entities that facilitate Iranian oil sales, and that those who help Iran evade sanctions will face Treasury action. The new sanctions were taken under Executive Order 13902, which targets Iran's oil sector and other key sectors of the Iranian economy.
The Treasury Department also announced that it has added several companies linked to the operation of the targeted ships to the sanctions list. The sanctions freeze the assets and interests of the listed individuals and entities that are in the US or under the control of US persons, and prohibit transactions with them. The move is aimed at disrupting the financial networks that support Iran's oil exports.
In a related development, OFAC announced that it has removed two ships, HAKUNA MATATA and PINOCCHIO, from the sanctions list after they changed ownership and were no longer part of the "shadow fleet." The move suggests that the Treasury Department is willing to reconsider sanctions on entities that are no longer involved in activities that evade US sanctions.
The new sanctions on Iran's "shadow fleet" reflect the US government's continued efforts to pressure Iran's economy and disrupt its military activities. The Treasury Department has been actively targeting Iran's oil exports and financial networks in recent years, in an effort to enforce US sanctions and limit Iran's ability to fund its military activities.
The impact of the new sanctions on Iran's oil exports and economy remains to be seen. However, the Treasury Department's actions are likely to further complicate Iran's efforts to sell its oil on the global market, and may lead to increased pressure on the Iranian regime to reconsider its military activities.
Key points
- US Treasury targets 17 Iranian oil tankers in new sanctions
- Sanctions aim to disrupt Iran's oil exports and military activities
- Treasury Department removes two ships from sanctions list after change in ownership
