U.S. Intensifies Sanctions on Iran's Shadow Fleet

The Biden administration has tightened sanctions on Iran, focusing on 35 entities and vessels involved in Iranian petroleum trade. This move aims to disrupt funding for Iran's nuclear and missile programs, with significant impacts on global shipping dynamics and regional stability concerns.

The Biden administration accelerated its sanctions on Iran on Tuesday, focusing on 35 entities and vessels accused of exporting illicit Iranian petroleum. These sanctions, described by the U.S. Treasury Department as targeting Tehran's 'shadow fleet,' follow earlier measures from October 11 and respond to Iran's alleged attack on Israel and nuclear activities.

According to Acting Under Secretary for Terrorism and Financial Intelligence Bradley Smith, Iran channels profits from its oil trade into its nuclear and missile programs, further destabilizing the region. The United States is determined to dismantle this 'shadow fleet' and curb these illicit activities using extensive tools and authorities.

The sanctions aim to cut funding for Iran's defense projects by banning U.S. entities from transactions with the targets and freezing any U.S.-based assets. Among the sanctioned vessels, eight carry oil, with others bound for Russian and Chinese ports, as indicated by LSEG Workspace shipping data.

(With inputs from agencies.)