U.S. Sanctions 17 Vessels Tied to Iranian Oil Shipments

The U.S. Treasury Department announced sanctions on 17 vessels and associated companies it said transported Iranian crude oil, petroleum products and petrochemicals to overseas markets, including in South and East Asia. The action targets what the department describes as the remaining network of Iran’s shadow fleet, which it says has been used to move oil and generate revenue for Tehran. Treasury Secretary Scott Bessent said the sanctions are intended to deprive Iran of funds used to wage war in the region. The department characterized the measures as neutralizing the vast majority of the country’s remaining shadow fleet, an assessment of the sanctions’ reach that has not been independently established in the supplied reporting. The designations cover 17 vessels and companies that Treasury said own them. The department accused the companies of operating in Iran’s petroleum or petrochemical sectors. The vessels were said to have moved millions of barrels of Iranian crude and other oil products. The targeted ships include the Comoros-flagged Paritosh, the Panama-flagged Bitu and the Bahamas-flagged Gas Lucky. The measures are part of the U.S.