US Imposes Sanctions On Iran's Shadow Navy

Twenty-nine vessels fell under the restrictions.

The United States has expanded its sanctions crackdown on illegal Iranian oil export schemes, imposing restrictions against ships and companies that, according to the American side, were involved in circumventing the existing embargo and securing multimillion-dollar profits.

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) reported.

Sanctions against ships and management companies

The United States government on Thursday, December 18, announced sanctions against nearly three dozen ships as well as management companies involved in Iran's so-called shadow fleet.

The restrictive measures are aimed at curbing illegal profits from exporting oil and petroleum products to circumvent international bans.

Obstruction of embargoes and multimillion-dollar shipments

"Today, OFAC is stepping up pressure on Iran's shadow fleet, which exports Iranian oil and petroleum products through deceptive shipping schemes. OFAC has imposed sanctions against 29 vessels of the shadow fleet as well as their respective management firms," the report said.

The document specified that the said vessels were used to transport Iranian oil products in circumvention of the embargo.

The total value of such shipments, according to estimates of the U.S. side, amounted to hundreds of millions of dollars.

Separate restrictions and the position of the U.S. Treasury Department

Sanctions were additionally imposed against Egyptian businessman Hatem Elsayed Farid Ibrahim Saqr.

It is reported that companies controlled by him operated seven vessels from the overall shadow fleet list.

"The U.S. Treasury Department will continue to spare the Iranian regime the oil revenues it uses to fund its military and weapons programs," Treasury Undersecretary for Counterterrorism and Financial Intelligence John Gurley said.

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