US targets Iran's hidden oil fleet with new round of restrictions
US Treasury Department names 35 ships and companies involved in Iranʼs oil trade. New measures block vessels carrying Iranian petroleum products and target Tehranʼs shadow maritime operations
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
