The US Treasury Department’s Office of Foreign Assets Control announced on the 15th that it is increasing pressure on Iran’s oil transport infrastructure, placing more than 20 entities, individuals, and vessels on its new sanctions list.
The announcement stated that the new sanctions mainly target an oil transport network associated with Mohammad Hossein, the son of the late secretary of Iran’s National Defense Council, Shamkhani. In addition to Iran, the sanctioned entities also involve the UAE, Marshall Islands, India, and others.
The announcement noted that the new sanctions target Iranian oil sales and Iranian regional proxies in the Middle East such as Hezbollah in Lebanon. This forms part of the Trump administration’s campaign of maximum economic pressure on Iran and its regional agents.
The announcement stated that all property and interests in property of the newly sanctioned parties that are in the United States or in the possession or control of US persons are frozen and must be reported to the Office of Foreign Assets Control. Entities controlled by those designated are also frozen. Unless authorized or exempted by the Office of Foreign Assets Control, all transactions by US persons or within the United States involving the sanctioned parties are prohibited. Violators may face civil or criminal penalties.