The US Treasury Department has stepped-up its actions against Iranʼs oil-trade network targeting 35 ships and organizations (part of what officials call a shadow-fleet). These fresh-measures come after Tehranʼs military moves towards Israel and its nuclear program changes in early-fall
The departments Acting Under Secretary Bradley Smith pointed out that Iran uses oil-trade money for several programs:
- Nuclear development
- Missile tech improvements
- Drone manufacturing
- Support of regional groups
These restrictions dont allow US-based people or companies to work with listed targets; any US-based assets are now frozen
Eight oil-filled tankers got caught in these new rules. The Min Hang super-tanker loaded Russian oil near St Petersburg in mid-november heading to Egypt while another ship - the Vesna is moving towards Russiaʼs far-east ports
Several huge vessels like the Phonix VLCC are now stuck with their cargo: some near China others floating off Malaysiaʼs coast. The Rio Napo (carrying raw materials) should reach middle-east ports any day now
The Lady Lucy Merope and Tonil - all carrying different oil products - are also part of this shadow-fleet thats helping Iran bypass international trade limits. The Bertha recently picked-up Nigerian oil and is now moving away from Africaʼs west coast