The US Treasury Department on Wednesday imposed new Iran-related sanctions targeting five individuals, four companies and nine vessels, including a Panama-based law firm and shipping businesses linked to Singapore and the United Arab Emirates.
The sanctions also target five individuals based in Panama and nine vessels linked to the designated shipping companies. Seven of the vessels are Panama-flagged cargo ships and bulk carriers, while two are UAE-flagged crew and supply vessels.
The latest designations form part of Washington's Operation Economic Outcast campaign, launched in August to restrict Iranian financial and commercial networks that US authorities accuse of supporting Tehran's military activities, missile development, cyber operations and the Islamic Revolutionary Guard Corps (IRGC).
Under US sanctions rules, assets belonging to designated individuals and entities within American jurisdiction are generally blocked, and US persons are generally prohibited from conducting transactions with them unless authorized.
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