The US Treasury Department on Thursday sanctioned 17 vessels it said were part of Iran’s remaining “shadow fleet,” targeting a maritime network Washington accuses of moving billions of dollars’ worth of Iranian petroleum and petrochemical products to foreign markets.
According to the Treasury, the vessels targeted on Thursday are registered across more than a dozen jurisdictions and operated through a network of international companies, including entities it described as front companies.
The vessels and a number of their owners and operators were designated under Executive Order 13902, which targets Iran’s petroleum and petrochemical sectors.
Treasury warned that sanctions violations may result in civil or criminal penalties and that foreign financial institutions involved in significant transactions with designated entities could also face secondary sanctions.
Treasury also warned foreign companies and financial institutions that facilitating money laundering or sanctions evasion on Iran’s behalf could expose them to US restrictions or exclusion from the American financial system.
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