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US Sanctions 29 Vessels Linked to Iran’s Shadow Shipping Network

US Sanctions 29 Vessels Linked to Iran’s Shadow Shipping Network
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The United States has imposed sanctions on 29 vessels and companies linked to Iran’s commercial shipping network for allegedly evading US sanctions, the US Treasury Department announced on Thursday.

According to the Treasury Department, the sanctioned vessels and companies were involved in the transportation of Iranian oil and are part of what US officials describe as Iran’s “shadow fleet”, a network used to bypass international sanctions. The vessels are reported to have transported Iranian oil worth hundreds of millions of dollars despite US restrictions on Iran’s oil exports.

The Treasury statement noted that the network includes ships and companies connected to an Egyptian shipping chain owned by Hatem Sayed Farid Ibrahim Saqer. Saqer, an Egyptian businessman, is said to control several companies registered in the United Arab Emirates, India, Panama, and the Marshall Islands. US authorities allege that these entities were used to illegally transport Iranian oil and circumvent US sanctions.

The United States has repeatedly stated that it will continue to enforce sanctions against networks involved in facilitating Iran’s oil exports outside the international regulatory framework.