U.S. Sanctions Target Iran's Revenue Streams via Shipping

The U.S. imposed sanctions on Iranian and Houthi-linked entities, targeting vessels involved in petroleum trade, supporting Iran’s nuclear activities. The sanctions, which block assets and interests in the U.S., aim to disrupt Iran's financial streams used in destabilizing actions.

The United States has sanctioned individuals, companies, and vessels linked to Iran and the Houthis, the Treasury Department announced Thursday. The move targets three vessels involved in trading Iranian petroleum and petrochemicals, which are a major source of funds for Iran's leadership.

According to Bradley Smith, acting under secretary for terrorism and financial intelligence, these revenues support Iran's nuclear program, ballistic missile development, and financing proxies like Hezbollah, Hamas, and the Houthis. Smith claims Iran utilizes a network of vessels, companies, and facilitators to sustain these activities.

Iran maintains that its nuclear program is intended for peaceful purposes. The affected vessels include the Djibouti-flagged MS ENOLA, owned by Journey Investment Company; the San Marino-flagged MS ANGIA; and the Panama-flagged MS MELENIA, both managed by Liberia- and Greece-registered Rose Shipping Limited, according to the Treasury. The sanctions could lead to fines or enforcement actions against U.S. entities dealing with the designated parties.

(With inputs from agencies.)