US Sanctions 29 Ships Linked to Iranian Oil

The US imposed sanctions on 29 vessels in Iran’s “shadow fleet” for allegedly exporting Iranian petroleum through deceptive shipping practices. The Treasury Department’s Office of Foreign Assets Control linked the vessels to Egyptian businessman Hatem Elsaid Farid Ibrahim Sakr and several companies from the UAE, India, Panama, and the Marshall Islands. Treasury Under Secretary John K. Hurley emphasized the goal of depriving Iran of revenue used to fund its military. The State Department noted that this action further limits Iran’s petroleum export capabilities.

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