KABUL (Pajhwok): The United States has imposed new sanctions on individuals, networks, and 17 vessels linked to the transportation of Iranian crude oil, petroleum products and petrochemicals, in a move aimed at intensifying economic pressure on Tehran.
According to Reuters, the US Treasury Department announced the sanctions on Thursday, October 8, as part of a programme known as “Operation Economic Fury.”
The initiative aims to prevent Iran from generating revenue to finance its war with the United States, develop missiles, conduct cyberattacks, and support the Islamic Revolutionary Guard Corps (IRGC).
A US Treasury official told reporters that the latest measures represent the most significant blow to Iran’s remaining infrastructure for illicit oil transportation, targeting a substantial portion of the country’s so-called “shadow fleet.”
The official added that the Treasury Department was seeking to cut off what it described as the Iranian government’s last major source of illicit revenue and increase international pressure on Tehran.
Reuters reported that the sanctions followed the US decision to reinstate its blockade of Iranian ports on July 14, after an understanding between Washington and Tehran aimed at ending the war collapsed.
According to a US Treasury official, Iran currently has approximately 20 million barrels of crude oil aboard vessels located outside the blockade zone, near Singapore, Malaysia, and China.
Another Treasury official said that Iran had halted the loading and unloading of crude oil from vessels because of the blockade and the sanctions.
Meanwhile, US President Donald Trump said on Thursday that Washington was engaged in “productive discussions” with Iran regarding the war, which began on February 28. He made the remarks on his social media platform.
Trump also said the United States would not launch an attack against Iran before the November 3 midterm elections to Congress.
However, some analysts believe the impact of the latest sanctions could be limited.
Bret Erickson, a senior official at consulting firm Obsidian Risk Advisors, said Iran had already delivered almost all the oil held aboard its vessels before the new sanctions were announced. Consequently, the measures may have little effect on the country’s oil exports.
According to Erickson, the move appears to be aimed more at generating political and media pressure than at achieving tangible results.
Reuters reported that the sanctioned vessels include the Paritosh, flying the flag of Comoros; the Bitu, registered under the flag of Panama; and the Gas Lucky, flying the flag of the Bahamas.
The latest sanctions come as the war between the United States and Iran continues. Washington is seeking to restrict Tehran’s sources of revenue by intensifying economic pressure, particularly on its oil export networks.
sa
