US Sanctions Target Iran’s Energy Ghost Fleet Amid Middle East Tensions

The US has imposed new sanctions on Iran's energy sector following an October attack on Israel. The sanctions target entities involved in transporting Iranian oil, aiming to cut financial resources for missile programs and terrorist support. The move intensifies the shadow conflict between Israel and Iran.

The United States on Friday announced stringent sanctions on Iran's energy sector in response to Tehran's aggressive missile attack on Israel at the start of October. The move is part of broader efforts to curb Iranian influence in the region by targeting the financial resources that sustain its missile initiatives and support for terrorist groups.

The sanctions focus on Iran's elusive "ghost fleet" of tankers and related firms across countries like the UAE, Liberia, and Hong Kong, accused of camouflaging and moving Iranian oil to Asian consumers. A network of companies in Suriname, India, Malaysia, and Hong Kong was also designated for facilitating the sale and logistics of Iranian petroleum.

While current US law enables sanctions on Iran's energy sector and related foreign entities, implementing them involves careful balancing to prevent disruptions in global oil markets. However, US officials, including National Security Advisor Jake Sullivan, remain resolute, citing the need to stifle Iran's missile funding and destabilizing activities. Treasury Secretary Janet Yellen affirmed the US's readiness to take further actions against Iran.

(With inputs from agencies.)