The Biden administration intensified its sanctions on Iran on Tuesday, targeting 35 entities and vessels accused of transporting illicit Iranian petroleum to international markets. The US Treasury Department referred to this network as Tehran's "shadow fleet", according to the Reuters news agency.
The new sanctions build on measures imposed on October 11 and which were implemented in response to Iran's October 1 attack on Israel as well as in response to its declared nuclear escalations, according to a statement from the Treasury Department.
“Iran continues to funnel revenues from its petroleum trade toward the development of its nuclear program, proliferation of its ballistic missile and unmanned aerial vehicle technology, and sponsorship of its regional terrorist proxies, risking further destabilizing the region,” Acting Under Secretary for Terrorism and Financial Intelligence Bradley Smith said in the statement.
“The United States remains committed to disrupting the shadow fleet of vessels and operators that facilitate these illicit activities, using the full range of our tools and authorities," Smith added.
The latest sanctions aim to hit critical sectors of Iran's economy, cutting off financial resources that could support its nuclear and missile programs.
The restrictions prohibit US individuals and entities from conducting business with the designated targets and freeze any assets they hold under US jurisdiction.