October 08, 2024 | Claire Jungman and Daniel Roth
On September 25, the United States slapped more sanctions on entities and individuals connected to Iran's petroleum sector—by far the regime’s most important financial lifeline. The U.S. Department of Treasury, Office of Foreign Assets Control (OFAC) blacklisted multiple entities—three individuals, four companies, plus nine vessels—all Chinese or Emirati-owned or -based. (Two of the tankers, ETERNAL 8 (IMO: 9232448) and ETERNAL PEACE (IMO: 9259745), sanctioned for their participation in these evasive operations, were already actively tracked by UANI maritime monitoring).
This latest round of sanctions further underscores Iran’s ongoing dependence on a sizeable foreign phalanx of intermediaries and facilitators, which provides critical and illegal services—on-shore and off—to grease the Iranian oil trade: false flagging, hidden and often complex ship-to-ship (STS) transfers, and the obscuring of oil origin, among a host of others.
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