U.S. adds pressure on Iranian shadow fleet

The Treasury Department yesterday announced that the U.S. is imposing sanctions on 35 entities and vessels that play a critical role in transporting illicit Iranian petroleum to foreign markets. This action imposes additional costs on Iran’s petroleum sector following Iran’s attack against Israel on October 1, 2024, as well as Iran’s announced nuclear escalations. Petroleum revenues provide the Iranian regime with the resources to fund its nuclear program, develop advanced drones and missiles, and provide ongoing financial and material support for the terrorist activities of its regional proxies.

For the names and identification information of the designated entities and vessels, see yesterday's BankersOnline OFAC Update.