U.S. issues fresh round of Iran-targeted sanctions

U.S. issues fresh round of Iran-targeted sanctions
by Darryl Coote
Washington DC (UPI) Apr 5, 2024

The United States issued Iran-targeted sanctions on Thursday, as the Biden administration seeks to threaten Tehran's ability to fund its Middle Eastern proxies and support Russia's war in Ukraine.

The Treasury's Office of Foreign Assets Control hit the Dubai-based Oceanlink Maritime DMCC with sanctions on accusations of shipping commodities for Iran's Armed Forces General Staff as well as its Ministry of Defense and Armed Forces Logistics.

It also identified 13 vessels operated by Oceanlink as blocked property.

Sanctions freeze all assets of the designated entity while barring U.S. persons from doing business with them under threat of being blacklisted as well.

Oceanlink was hit as it has been implicated in the illegal shipping of Iranian commodities.

According to the Treasury, Oceanlink-managed vessel Hecate was involved in a ship-to-ship transfer of more than $100 million in Iranian commodities on March 25 with Dover, a U.S.-blacklisted vessel operated by the National Iranian Tanker Company.

Officials said the commodities transfer was on behalf of another U.S.-sanctioned company, Sepehr Energy Jahan Nama Pars.

"We are focused on disrupting Iran's ability to finance its terrorist proxy and partner groups and support to Russia's war of aggression against Ukraine," Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson said Thursday in a statement.

"The United States will continue to use our full range of tools to target the illicit funding streams that enable Iran's destabilizing activities in the region and around the world."

The United States has authorized extensive sanctions against Iran over the years, and the Biden administration has sought to use this punitive measure to punish Iran over its furnishing of Russia with drones and other weapons amid its war against Ukraine.

It has also sought to tighten its financial vises on Tehran over its proxy militias seeking to take advantage of Israel's war against Iran-backed Hamas in Gaza.

Embolden by the conflict that erupted in early October, the Houthi rebels in Yemen have been attacking vessels transiting the all-important international shipping lane of the Red Sea, stating it is in solidarity with the Palestinian people.

The United States, along with Britain and other supporting countries, have formed a coalition to protect vessels in the trade route, intercepting Houthi-launched missiles as well as attacking Houthi military targets in Yemen.

The Biden administration has said it does not seek an escalation to the conflict, and has employed sanctions in an effort to hinder Iran's financial support of its proxy militia.