By Sama Marwan,
The U.S. Department of the Treasury has announced sanctions against international networks involved in transporting and purchasing Iranian oil, with transactions valued in the billions of dollars.
In a statement issued today (Thursday), the Treasury’s Office of Foreign Assets Control (OFAC) said the sanctions aim to exert additional pressure on Iran’s so-called “shadow fleet” by targeting vessels that have secretly participated in transporting Iranian oil.
In a statement, U.S. Treasury Secretary Scott Bessent said: “The Treasury Department will continue to target Iran’s revenue sources and increase economic pressure to disrupt the Iranian regime and prevent it from accessing financial resources that fund its destabilizing activities.”
