New designations target oil shipping
The U.S. Treasury Department announced sanctions on October 8 against 17 vessels and associated companies that it said transported Iranian oil, petroleum and petrochemical products. The department identified the action as part of Operation Economic Outcast and cited Executive Order 13902. [1]
Treasury said the targeted vessels had carried shipments to markets in South and East Asia. Its account of the shipments is the agency’s stated basis for the sanctions. [1]
Two vessels removed from the list
OFAC’s same-day update also removed HAKUNA MATATA and PINOCCHIO from its Specially Designated Nationals and Blocked Persons List. Treasury said the removals followed changed circumstances, including sales to non-sanctioned operators and departure from the shadow fleet. [1][2]
Treasury said covered property of designated or blocked persons in the United States, or controlled by U.S. persons, must be blocked and reported to OFAC. Transactions involving that property are generally prohibited unless licensed or exempt. [1]
Sources
- U.S. Treasury · October 8 action against Iran’s shadow fleet ↗Official release
- OFAC · October 8 additions and removals to sanctions lists ↗Official source