US Sanctions Entities Involved in Iranian Oil Trade Over Terrorism, Human Rights Violations

December 20, 2024 TruthUSA

The Treasury Department says Iran maintains a ’shadow fleet’ in its oil trade to fund illicit activities.

The United States announced new sanctions on Dec. 19 on Iranian oil over terrorism and human rights abuses, targeting international vessels and businesses that the U.S. Treasury Department says generate billions for the Iranian regime.

The revenue has gone toward Iran’s nuclear weapons program, development of ballistic missiles, and terrorist groups Hezbollah, Hamas, and Houthis, according to the U.S. State Department.

The vessels used to transport Iranian petroleum and petrochemicals also use “methods of obfuscation,” based around the world.

Iran “continues to rely on its shadowy network of vessels, companies, and facilitators to finance the development of its nuclear program, the proliferation of its weapons systems, and support to its proxies,” said Acting Under Secretary for Terrorism and Financial Intelligence Bradley Smith. “The United States is committed to targeting Iran’s key revenue streams that fund its destabilizing activities.”

The Treasury Department stated the illicit oil trade, its “shadow fleet,” tends to make use of older, poorly maintained vessels that operate outside of maritime regulations and use deceptive shipping practices.

The department sectioned Marshall Islands-registered Journey Investment Company and its vessel MS Enola, which recently received millions of barrels of Iranian oil from a sanctioned Iranian tanker. It also sanctioned Liberia and Greece-registered Rose Shipping Limited and two of its ships involved in illicit Iranian oil shipments. Hong Kong-based Master Joint Co. is also being sanctioned for coordinating sales of Iranian petrochemicals.

The Treasury Department also sanctioned eight individuals for their participation in related illicit trade activities.

The State Department the same day announced sanctions on Ghezel Hesar Prison for human rights violations, “namely cruel, inhuman and degrading treatment or punishment” against those exercising their freedom of expression.

The department also sanctioned China-based Brecalin Hong Kong and four vessels it has an interest in; Seychelles-based Shiny Sails Shipping and one of its vessels; Suriname-based Galaxy Management NV and one of its vessels; and India-based Atlantic Navigation OPC PVT.

International experts and officials have expressed concern over Iranian efforts to produce nuclear weapons amid conflict between Israel, Iran, and Iran’s proxies.

The International Atomic Energy Agency (IAEA) has condemned Iran for twice failing to cooperate with inspections in recent months, with board members asking why traces of uranium were found in two locations.

In a quarterly report published on Nov. 19, the IAEA said the Iranian regime had amassed a stockpile of enriched uranium that was more than 32 times the limit set by the 2015 Joint Comprehensive Plan of Action nuclear deal.

Chris Summers contributed to this report.

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