US Sanctions Over 30 Individuals and Vessels Involved in Iranian Oil Sales

The United States, on February 24, imposed sanctions on over 30 individuals and vessels for their involvement in selling and transporting Iranian petroleum-related products. The Treasury Department stated that these actions target Tehran's "shadow fleet." The sanctions affect oil brokers in the UAE and Hong Kong, tanker operators and managers in India and China, the head of Iran's National Iranian Oil Company, and the Iranian Oil Terminals Company. The sanctioned vessels are reportedly involved in shipping tens of millions of barrels of crude oil, valued in the hundreds of millions of dollars. According to Treasury Secretary Scott Bessent, Iran continues to use a network of vessels, shippers, and brokers to facilitate its oil sales and fund destabilizing activities. These sanctions build upon previous measures by the Biden administration and aim to deny the Iranian government funds for its nuclear and missile programs.