U.S. Imposes Fresh Sanctions On Iran’s Shadow Fleet & Oil Network
The United States has imposed fresh sanctions on over 30 individuals, companies, and vessels involved in the sale and transportation of Iranian oil.
These sanctions, announced by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the U.S. Department of State, aim to disrupt Iran’s petroleum trade, which funds its military and regional activities.
It targets key figures within Iran’s oil sector, including Hamid Bovard, Iran’s Deputy Minister of Petroleum and the CEO of the National Iranian Oil Company (NIOC).
NIOC oversees oil exploration, production, refining, and exports. The U.S. previously sanctioned the company under Executive Order (E.O.) 13224 for providing financial support to the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).
Also sanctioned is the Iranian Oil Terminals Company (IOTC), a subsidiary of NIOC that controls major oil export terminals such as Kharg Island Oil Terminal and South Pars Condensate Terminal.
The company is managed by Abbass Asadrouz, while Sayyed Ali Miri, Gholamhossein Gerami, and Ali Moalemi oversee key operations at these terminals.
The U.S. has designated them under E.O. 13902 for their roles in Iran’s petroleum industry. Iran depends on international brokers to facilitate oil sales, particularly in the United Arab Emirates (UAE) and China (PR…
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