U.S. Imposes Sanctions on Participants in Iranian Oil Transportation Schemes

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The U.S. Treasury Department announced new sanctions against companies and individuals involved in the transportation of Iranian crude oil and transferring the proceeds to Tehran, Interfax reports.

According to the U.S. Treasury, Iran uses an extensive international network of maritime transporters to deliver crude oil to foreign buyers, including countries in East Asia.

The U.S. Treasury alleges that these entities facilitate export channels and enable Iran to generate revenue from energy sales despite existing restrictions.

The new sanctions list includes several companies involved in shipping and maritime transportation management. Among them are Singapore-based Azure Shipping, Hong Kong-registered Shipoil Limited, Dubai-based Amdeh Ship Management and Operation, UAE-based Foscom FZE, and its Ukrainian owner Ivan Obukhov.

Additionally, several other companies from the United Arab Emirates were also targeted, including Unique Oasis Shipping Services and Target Horizon Shipping.

Washington stated that it will continue to identify and restrict participants in international schemes that help Iran export oil and generate revenue from its energy sector.