U.S. Treasury Sanctions 19 Vessels in Effort to Curb Iranian Oil Exports
The U.S. Treasury Department has imposed sanctions on 19 vessels and a network of entities involved in Iranian oil, LPG, and petrochemical exports. This move is part of a broader strategy to limit Iran's energy revenue amid ongoing Middle Eastern conflicts. The sanctions, announced by the Office of Foreign Assets Control (OFAC), target Iran's 'shadow banking system' and 'shadow fleet,' which facilitate the movement of billions of dollars in oil and petrochemical sales outside traditional financial channels. Treasury Secretary Scott Bessent emphasized that these actions are part of the 'Economic Fury' campaign, aimed at disrupting Iran's revenue generation through global energy markets. The sanctioned vessels, operating under various international flags, have been transporting Iranian crude oil and petrochemicals, generating significant revenue for Tehran. 
