WASHINGTON: The United States on Monday announced sanctions against more than 30 Iran-linked people and vessels, including the head of the national oil company, for brokering the sale and shipment of Iranian oil.
“Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales and fund its destabilizing activities,” US treasury Scott Bessent said in a statement announcing the designations.
“The United States will use all our available tools to target all aspects of Iran’s oil supply chain, and anyone who deals in Iranian oil exposes themselves to significant sanctions risk,” he added.
Like Russia, Iran relies on a network of tankers that conduct ship-to-ship transfers of oil outside territorial waters in order to evade Western sanctions, providing the country — and its military — with a key source of revenue.
Among those targeted Monday was Hamid Bovard, Iran’s deputy petroleum minister, and the chief executive officer of the National Iranian Oil Company (NIOC).
The United States previously designated the NIOC for providing support to the foreign operations arm of Iran’s Islamic Revolutionary Guard Corps (IRGC).
Others hit Monday include oil brokers based in the United Arab Emirates (UAE) and Hong Kong, and tanker operators and managers in India and China, the treasury department said.
It accused the vessels sanctioned of helping ship “tens of millions of barrels of crude oil valued in the hundreds of millions of dollars.”
The state department also announced sanctions against an additional 16 companies Monday “for their involvement in the sale, purchase, and transportation of Iranian petroleum,” the treasury department said.