Yesterday, the U.S. Treasury Department took sanctions action against Iran’s Minister of Petroleum and several entities in multiple jurisdictions, including the People’s Republic of China and India, for their ownership of vessels operating as part of Iran’s “Shadow Fleet.”
Iran continues to leverage a complex shadow network of financial facilitators, black-market oil shippers, and shadow fleet vessels to sell its oil, petrochemicals, and other commodities to generate revenue.
This action underscores Treasury’s strong commitment to disrupt these efforts by the regime to export its oil to finance its destabilizing activities. We will continue to apply pressure on this “shadow fleet” and other vessels to advance our commitment to reduce Iran’s oil exports to zero.
Source by Treasury Department
