US issues fresh Iran-related sanctions targeting vessel owner

FILE PHOTO: The U.S Treasury building in Washington.

FILE PHOTO: A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. REUTERS/Kevin Lamarque/File Photo

Source: REUTERS

The United States on Thursday imposed new Iran-related counterterrorism sanctions against Oceanlink Maritime DMCC and its vessels, citing its role in shipping commodities on behalf of the Iranian military.

WHY IT IS IMPORTANT

The United States is using financial sanctions to isolate Iran and disrupt its ability to fund its proxy groups and support Russia's war in Ukraine, the Treasury Department said. The United Arab Emirates-based Oceanlink operates a fleet of more than a dozen vessels deeply involved in shipping Iranian commodities, Treasury said.

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The U.S. Treasury Department said the Oceanlink Maritime DMCC-managed vessel HECATE recently loaded Iranian commodities valued at over $100 million dollars via a ship-to-ship transfer from another sanctioned tanker.

CONTEXT

A series of U.S. and Western sanctions have targeted Iran's "destabilizing activities in the region and around the world," Treasury said in a statement. Iran has a network of proxies in the Middle East including in Lebanon, Syria, Iraq and Yemen.

This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters