US imposes sanctions on 35 entities, vessels for transporting Iranian oils

The USA on Tuesday imposed sanctions on 35 entities and vessels, together with two from India, for transporting Iranian oil to different nations.

The 2 India-based entities are Imaginative and prescient Ship Administration LLP that manages and operates the PHONIX, and Tightship Delivery Administration (OPC) Non-public Restricted.

Entities and vessels from the United Arab Emirates, China, Liberia, China, Hong Kong amongst others have additionally been slapped with sanctions.

In an announcement, the Division of Treasury mentioned this motion imposes extra prices on Iran’s petroleum sector following Iran’s assault towards Israel on October 1, in addition to Iran’s introduced nuclear escalations, constructing upon the sanctions issued on 11 October.

Petroleum revenues present the Iranian regime with the sources to fund its nuclear program, develop superior drones and missiles, and supply ongoing monetary and materials assist for the terrorist actions of its regional proxies, it mentioned.