The United States imposed economic sanctions on Tuesday targeting 35 vessels from the "ghost fleet" that allows Iran to export its oil to foreign markets while circumventing Western restrictions, the U.S. Treasury Department announced.
"Oil revenues provide the Iranian regime with the resources needed to fund its nuclear program, develop advanced drones and missiles, and offer ongoing financial and material support to the terrorist activities of its regional proxies," the Treasury stated in a press release.
On October 11, Washington had imposed a series of sanctions targeting Iran's petrochemical industry in "response to the October 1 attack on Israel, the second direct attack this year." These sanctions covered the entire sector, as well as 20 vessels and companies operating abroad.
"Iran continues to channel the revenues from its oil trade into the development of its nuclear program, the proliferation of its ballistic missile and drone technology, and the sponsorship of its regional terrorist proxies, further risking destabilization in the region," said Acting Under Secretary of State for Terrorism and Financial Intelligence, Bradley Smith, as quoted in the statement.
"The United States remains committed to disrupting the clandestine fleet of ships and operators facilitating these illicit activities by employing the full range of our tools and authorities," he assured.
The sanctions result in the freezing of assets held directly or indirectly by targeted companies in the United States, as well as prohibitions on U.S.-based companies or American citizens engaging in transactions with these sanctioned entities under the threat of secondary sanctions.
They also effectively complicate the commercial activities of the sanctioned companies by limiting their ability to use the U.S. dollar in transactions, exposing them to American jurisdiction risks.
With AFP
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