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US Imposes New Sanctions on Iran’s Shadow Oil Fleet
A gas flare on an oil production platform is seen alongside an Iranian flag in the Gulf July 25, 2005. Photo: REUTERS/Raheb Homavandi
The United States imposed a fresh round of sanctions targeting Iran’s oil industry on Monday, hitting more than 30 brokers, tanker operators, and shipping companies for their role in selling and transporting Iranian petroleum, the Treasury Department said.
The announcement comes as US President Donald Trump seeks to bring Iran’s crude exports to zero to prevent the country from obtaining a nuclear weapon and builds on the layers of sanctions already imposed by his government and the previous Biden administration.
“Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales and fund its destabilizing activities,” said Treasury Secretary Scott Bessent in a statement.
“The United States will use all our available tools to target all aspects of Iran’s oil supply chain, and anyone who deals in Iranian oil exposes themselves to significant sanctions risk,” he added.
The new sanctions target oil brokers in the United Arab Emirates 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, Treasury said.
The Iranian Oil Terminals Company oversees all operations at Iran’s oil terminals, including Kharg Island Oil Terminal, through which a majority of Iranian oil flows, and South Pars Condensate Terminal, which accounts for 100 percent of Iran’s gas condensate exports, according to Treasury.
Trump earlier this month had restored his “maximum pressure” campaign on Iran that includes efforts to drive the country’s oil exports to zero, reimposing Washington’s tough policy on Iran that was practiced throughout Trump’s first term.
Oil is a top source of revenue for Iran, and targeting the country’s exports is meant to deny the government funds for its nuclear and missile programs. The move generally prohibits any US individuals or entities from doing any business with the targets and freezes any US-held assets.
Trump had accused his predecessor, President Joe Biden, of failing to rigorously enforce oil-export sanctions.
Despite US sanctions, Tehran’s oil exports brought in $53 billion in 2023 and $54 billion a year earlier, according to US Energy Information Administration estimates.
Output during 2024 was running at its highest level since 2018, based on OPEC data.
Trump had driven Iran’s oil exports to near-zero during part of his first term after re-imposing sanctions, but they rebounded under Biden’s White House tenure as Iran succeeded in evading sanctions.
It is unclear if Trump’s measures will push Iran’s exports back down significantly.
China does not recognize US sanctions and Chinese firms buy the most Iranian oil. China and Iran have built a trading system that uses mostly Chinese yuan and a network of middlemen, avoiding the dollar and exposure to US regulators.
The Paris-based International Energy Agency believes Saudi Arabia, the United Arab Emirates and other OPEC members have spare capacity to make up for any lost exports from Iran, also an OPEC member.
The post US Imposes New Sanctions on Iran’s Shadow Oil Fleet first appeared on Algemeiner.com.
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Report: IDF Probes Whether Houthis Used Iranian Cluster Bomb-Bearing Missile
Houthi leader Abdul-Malik al-Houthi addresses followers via a video link at the al-Shaab Mosque, formerly al-Saleh Mosque, in Sanaa, Yemen, Feb. 6, 2024. Photo: REUTERS/Khaled Abdullah
i24 News – The Israeli military said Saturday it launched a probe into the failure of its defenses to fully intercept a missile launched by Yemen’s Houthi jihadists, parts of which struck not far from the Ben Gurion airport on Friday night.
According to the Ynet website, one of the hypotheses being examined is that the projectile contained cluster munitions, similar to those used by Iran to fire at Israeli cities during the 12-day war in June. Cluster munitions pose a challenge to interceptors as they disperse smaller explosives over a wide area.
In June, Iran fired several missiles carrying scattered small bombs with the aim of increasing civilian casualties.
The IDF said on Saturday that its initial review suggests the ballistic missile from Yemen likely fragmented in mid-air. Five interceptors from various systems engaged with the missile, including THAAD, Arrow, David Sling & Iron Dome.
Authorities said that shrapnel impacted a house in the central Israeli moshav of Ginaton, yet no one was hurt, with the fragment landing in the house’s backyard.
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Iran Forces Kill Six Militants, IRNA Reports, Israel Link Seen
The Iranian flag is seen flying over a street in Tehran, Iran, Feb. 3, 2023. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
Iranian security forces shot dead six militants in a clash in southeastern Iran on Saturday, a day after armed rebels killed five police officers in the restive region, the official news agency IRNA reported.
IRNA said evidence showed the group was linked to Israel and may have been trained by Israel‘s Mossad spy agency. There was no immediate Israeli reaction to the allegation.
Another two members of the militant group were arrested, the report said. All but one of the militants were foreign, it added, without giving their nationality.
Iranian police said this month they had arrested as many as 21,000 suspects during the 12-day war with Israel in June.
Iran’s southeast has been the scene of sporadic clashes between security forces and armed groups, including Sunni militants and separatists who say they are fighting for greater rights and autonomy.
Tehran says some of them have ties to foreign powers and are involved in cross-border smuggling and insurgency.
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Benny Gantz Urges Time-Limited National Unity Government to Further Chances of Hostage Deal
Israeli Defence Minister Benny Gantz attends his party’s meeting at the Knesset, Israeli parliament in Jerusalem, June 27, 2022. REUTERS/Ronen Zvulun
i24 News – Blue and White Party leader Benny Gantz on Saturday called on Prime Minister Benjamin Netanyahu and opposition politicians to form a temporary national unity government to further the chances of bringing home the hostages held in Gaza.
Addressing Netanyahu, Yair Lapid and Avigdor Liberman, Gantz said that the proposed government’s two supreme priorities would be the release of Israeli hostages held by the jihadists of Hamas and instituting universal conscription in Israel by ending the exemption from military service enjoyed by the ultra-Orthodox.
Upon attainment of the goals, the government would dissolve and call an election.
“The government’s term will begin with a hostage deal that brings everyone home,” Gantz said in a video address. “Within weeks, we will formulate an enlistment outline that would see our ultra-Orthodox brethren drafted to the military and ease the burden on those already serving. Finally, we will announce an agreed-upon election date in the spring of 2026 and pass a law to dissolve the Knesset [Israeli parliament] accordingly. This is what’s right for Israel.”