U.S. Treasury Sanctions 17 Vessels in Iran’s Shadow Fleet

The U.S. Treasury sanctioned 17 shadow-fleet vessels transporting millions of barrels of Iranian crude oil, petroleum and petrochemical products to South and East Asia. Treasury said the October 8 action, part of Operation Economic Outcast, targets revenue Iran uses to wage war in the region. It described a network of vessels registered across more than a dozen jurisdictions, with international front companies concealing its operations. The designations block covered property under U.S. jurisdiction. Treasury also removed HAKUNA MATATA and PINOCCHIO from sanctions after they left the shadow fleet and were sold to non-sanctioned operators.