US slaps sanctions on Iranian National Oil Company chief over oil shipments

WASHINGTON: The United States on Monday introduced sanctions in opposition to greater than 30 Iran-linked individuals and vessels, together with the pinnacle of the nationwide oil firm, for brokering the sale and cargo of Iranian oil.
“Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales and fund its destabilizing activities,” US treasury Scott Bessent mentioned in an announcement saying the designations.
“The United States will use all our available tools to target all aspects of Iran’s oil supply chain, and anyone who deals in Iranian oil exposes themselves to significant sanctions risk,” he added.
Like Russia, Iran depends on a community of tankers that conduct ship-to-ship transfers of oil outdoors territorial waters with a view to evade Western sanctions, offering the nation — and its navy — with a key income.
Among these focused Monday was Hamid Bovard, Iran’s deputy petroleum minister, and the chief govt officer of the National Iranian Oil Company (NIOC).
The United States beforehand designated the NIOC for offering help to the overseas operations arm of Iran’s Islamic Revolutionary Guard Corps (IRGC).
Others hit Monday embody oil brokers based mostly within the United Arab Emirates (UAE) and Hong Kong, and tanker operators and managers in India and China, the treasury division mentioned.
It accused the vessels sanctioned of serving to ship “tens of millions of barrels of crude oil valued in the hundreds of millions of dollars.”
The state division additionally introduced sanctions in opposition to an extra 16 firms Monday “for their involvement in the sale, purchase, and transportation of Iranian petroleum,” the treasury division mentioned.