The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) recently sanctioned more than 30 individuals, entities and vessels for enabling illicit Iranian petroleum sales and Iran’s ballistic missile and advanced conventional weapons (ACW) production.
“Iran exploits financial systems to sell illicit oil, launder the proceeds, procure components for its nuclear and conventional weapons programs, and support its terrorist proxies,” Secretary of the Treasury Scott Bessent said. “Under President [Donald] Trump’s strong leadership, Treasury will continue to put maximum pressure on Iran to target the regime’s weapons capabilities and support for terrorism, which it has prioritized over the lives of the Iranian people.”
The OFAC targeted 12 shadow fleet vessels and their owners or operators. Collectively, they have transported hundreds of millions of dollars’ worth of Iranian petroleum and petrochemical products to foreign markets. Shadow fleet vessels serve as the regime’s primary source of revenue for financing domestic repression, terrorist proxies, and weapons programs.
OFAC targeted nine individuals and entities based in Iran, Turkey and the United Arab Emirates for facilitating the procurement of precursor chemicals and sensitive machinery for Iran’s Islamic Revolutionary Guard Corps and Ministry of Defense and Armed Forces Logistics.
OFAC designated four individuals based in Iran for their connection to Qods Aviation Industries.