US sanctions Iran-linked vessels

by Sarah Fortinsky

The Treasury Department announced new sanctions Thursday targeting 29 vessels that the U.S. says are part of Iran’s “shadow fleet,” used to transport oil and petroleum products through deceptive shipping practices.

The Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned the 29 entities, along with their respective management firms, which “have transported hundreds of millions of dollars’ worth of Iranian petroleum products.”

The sanctions also target an Egyptian businessman, Hatem Elsaid Farid Ibrahim Sakr, whose companies are allegedly associated with seven of the 29 vessels, as well as several shipping companies, according to the Treasury Department.

“As President Trump has said repeatedly, the United States will not allow Iran to have a nuclear weapon,” John Hurley, undersecretary for Terrorism and Financial Intelligence, said in a statement.

“Treasury will continue to deprive the regime of the petroleum revenue it uses to fund its military and weapons programs.”

President Trump has sought to crack down on Iran’s oil sales and, since returning to office, has sanctioned more than 180 vessels allegedly involved in shipping Iranian petroleum and associated products.

“The United States will continue pursuing measures to implement National Security Presidential Memorandum 2, which directs the imposition of maximum pressure on the Iranian regime to deprive it of the revenues that fund its destabilizing activities,” a State Department statement read.

“We will not hesitate to utilize all available tools at our disposal to counter those who enable Iran’s illicit oil trade,” the statement continued.

The Trump administration has also targeted Venezuela’s shadow fleet in recent days.

Last week, the U.S. seized an oil tanker off the coast of Venezuela that the administration said was being used to transport “sanctioned oil” from Venezuela and Iran. Trump has said the U.S. intends to keep the oil that was on board.

Trump further escalated his pressure campaign against Venezuelan President Nicolás Maduro by announcing earlier this week a “total and complete blockade of all sanctioned oil tankers going into, and out of, Venezuela.”