Washington Imposes Sanctions on Network of Old Tankers Iran Relies on to Export Oil and Products

Washington, Oct 8 (KUNA) -- The United States announced on Thursday the imposition of sanctions on a network of aging tankers relied upon by Iran to export oil and its products, as part of the “economic pariah” campaign launched by Washington last August to completely isolate the Iranian regime economically. The U.S. Department of the Treasury said in a statement that its Office of Foreign Assets Control (OFAC) sanctioned “the network of old tankers the (Iranian) regime relies on to transport billions of dollars worth of oil and petroleum products to foreign markets,” as part of U.S. efforts “to neutralize the remainder” of the Iranian regime’s shadow fleet and its global support network. It affirmed that the measure taken today “effectively neutralizes the vast majority of the remaining shadow fleet in Iran.” The Treasury statement noted that the “ships targeted by the sanctions are registered in more than 12 jurisdictions and are operated by a complex network of international front companies on a global scale, facilitating Iran’s illegal shipping operations and the regime’s efforts to conceal its sanctions evasion.” It added that “by dismantling these maritime networks and the companies behind them, the Department of the Treasury is cutting off the critical channels the Iranian regime has long relied on to circumvent U.S. sanctions, sustain its petrochemical sector, and direct resources to destabilizing actors.” It stressed that “because this illicit maritime ecosystem is dynamic, with ships routinely entering and exiting the network, the Department of the Treasury will continue to monitor, identify, and disrupt any attempts to evade sanctions.” For his part, U.S. Treasury Secretary Scott Bessent said in a statement that the Treasury “is depriving the tyrannical regime in Tehran of the funds it uses to wage war in the region,” reaffirming the commitment to “expose those who enable the regime’s oil sales.” Bessent emphasized that “no enabler of Iranian sanctions evasion is safe from the full force of the Treasury Department’s authorities.” (End) R.S.R. / M.A.A.