The U.S. Department of the Treasury imposed new sanctions against Iran on Thursday, targeting the Islamic Republic’s “shadow fleet” used to transport illicit petroleum.
Treasury’s Office of Foreign Assets Control stated that it is designating 29 vessels and their management firms for allegedly facilitating the transfer of hundreds of millions of dollars’ worth of Iranian petroleum products.
“The United States will not allow Iran to have a nuclear weapon,” stated John Hurley, under secretary of the Treasury for terrorism and financial intelligence. “Treasury will continue to deprive the regime of the petroleum revenue it uses to fund its military and weapons programs.”
Thursday’s sanctions package also designates Egyptian businessman Hatem Elsaid Farid Ibrahim Sakr, who the department claims is associated with nearly a quarter of the vessels sanctioned in the latest announcement.
The Trump administration has sanctioned more than 180 vessels tied to Iranian petroleum shipping since January as part of the White House’s “maximum pressure” strategy against the Iranian regime.
The Iranian shadow fleet is used to conceal the transport of sanctioned products to Asia, with false flags, falsified shipping documents, vessel renaming and other misdirection tactics, according to Treasury.
Shipping companies operating out of the United Arab Emirates, Panama, the Marshall Islands, India, the British Virgin Islands and Liberia were also sanctioned for their management and operation of the designated vessels.
