Treasury Targets Iran’s Shadow Fleet with New Sanctions
U.S. Treasury expands sanctions on Iran’s shadow fleet, aiming to cut off oil revenue and disrupt sanctions evasion.
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The U.S. Department of Treasury has intensified its efforts to disrupt Iran’s shadow fleet with new sanctions under Operation Economic Outcast, continuing the Trump administration’s strategy to block billions of dollars in oil and petroleum products from flowing through Iran’s illicit network of tankers.
Treasury officials stated that the Iranian regime is increasingly desperate to stabilize its economy due to the U.S. military blockade. Treasury Secretary Scott Bessent emphasized that the administration is starving the regime of funds used to wage war in the region and warned that any enabler of Iranian sanctions evasion will face the full force of U.S. authorities.
Operation Economic Outcast, formally announced on August 24, is described as an “economic onslaught” aimed at isolating Iran from the global economy. Bessent warned that countries and companies engaging in business with Tehran risk facing U.S. sanctions, which have already impacted multiple banks and entities.
This week, Bessent made history by stating that the nation will have no oil revenue, signaling a major shift in U.S. economic policy. The Treasury has identified 17 ships responsible for transporting Iranian crude oil to markets in South and East Asia, including China. These vessels, registered across more than a dozen jurisdictions, are still evading U.S. sanctions.
Officials noted that the maritime network used by the Iranian regime is fluid, with vessels constantly entering and exiting the system. The Treasury has vowed to continue monitoring, identifying, and disrupting attempts at sanctions evasion.
In early September, U.S. armed forces destroyed five shadow fleet tankers after Iran twice targeted an American warship with ballistic missiles, highlighting the ongoing tensions and the U.S. commitment to countering Iran’s activities.
Source: Breitbart
