By Doina Chiacu, Susan Heavey and Florence Tan
WASHINGTON/SINGAPORE (Reuters) – The Biden administration stepped up sanctions on Iran on Tuesday, targeting 35 entities and ships it said were transporting illicit Iranian crude to foreign markets as part of what the U.S. Treasury Department calls the U.S. Treasury’s “shadow fleet.” Tehran mentioned.
The sanctions build on those imposed on October 11 and are in response to Iran’s October 1 attack on Israel and announced nuclear escalations, the Treasury Department said in a statement.
“Iran continues to channel revenues from its oil trade into the development of its nuclear program, the proliferation of its ballistic missile and unmanned aircraft technology, and sponsorship of its regional terrorist allies, risking further destabilizing the region,” said Acting Secretary of State for Terrorism and Safety. Financial Intelligence Bradley Smith said.
“The United States remains committed to disrupting the shadow fleet of ships and operators that facilitate these illegal activities, using the full range of our tools and authorities.”
Such sanctions target key sectors of Iran’s economy, with the aim of denying the government funding for its nuclear and missile programs. This move generally bans any U.S. individuals or entities from doing business with the targets and freezes any U.S. assets.
Eight of the 21 sanctioned ships were loaded with oil, while another was headed to a Russian port to pick up a cargo, ship data on LSEG Workspace shows.
Suezmax tanker Min Hang loaded Russian Ural oil at the port of Ust-Luga on November 17 and is en route to Port Said in Egypt, while Vesna, an Aframax-sized tanker, is en route to the Pacific port of Kozmino to Russian ESPO Blend oil to be loaded on December 8, the data showed.
The Very Large Crude Carrier (VLCC) Phonix was scheduled to discharge its cargo at the port of Rizhao in China’s eastern province of Shandong, while the medium-range tanker Rio Napo was scheduled to discharge its naphtha cargo at the port of Sohar on December 4.
The fully loaded VLCC Elva is anchored off the coast of Malaysia, together with the VLCCs FT Island and Yuri, which appear to be empty.
VLCC Bertha departs West Africa after loading Nigerian Egina oil.
Two other tankers – Lady Lucy and Merope – are loaded with fuel oil, while tanker Tonil is carrying naphtha.
