The U.S. Department of the Treasury has announced new sanctions targeting 4 entities and 3 vessels involved in Iran’s petroleum and petrochemical trade. This is part of ongoing efforts to limit the billions in revenue that support Iran’s nuclear program and terrorist proxy groups like the Houthis.
These sanctions are part of a broader crackdown on Iran’s “shadow fleet” following Iran’s October 2024 attack on Israel and recent nuclear escalations. The sanctions expand upon previous rounds that designated additional entities and vessels.
The key targets include the Marshall Islands-registered Journey Investment Company, owner of the Djibouti-flagged vessel MS ENOLA, which has received Iranian oil through illicit ship-to-ship transfers and used deceptive practices to mask its activities.
The sanctions block all U.S.-based property and interests of the designated entities. The Treasury’s actions are also complemented by State Department measures against additional entities.
Experts note that Iran’s “dark fleet” typically operates using older, poorly maintained vessels outside of standard regulations, posing safety risks for legitimate shipping.
Source: Gcaptain
