US imposes fresh sanctions on Iran's shadow fleet
USO•The US imposed sanctions on individuals, networks and 17 vessels transporting Iranian crude, oil products and petrochemicals. A Treasury official said Iran had about 20 million barrels of crude left on vessels outside the blockade; an analyst said the sanctions’ impact may be muted.
1. Sanctions target vessels
The US imposed fresh sanctions on individuals, networks and 17 vessels for transporting Iranian crude, oil products and petrochemicals. The Treasury Department said the action aims to cut funding for the war, missile construction, cyberattacks and the Islamic Revolutionary Guard Corps.
2. Oil impact may be muted
A Treasury official said Iran had about 20 million barrels of crude remaining on vessels outside the blockade, off Singapore, Malaysia and China. Another official said Iran had stopped loading and offloading crude oil vessels because of the blockade and sanctions. Analyst Brett Erickson said the impact may be muted because Iran had delivered virtually all of its oil at sea.
