US tightens grip: New sanctions on Iran's shadow fleet
The US administration announced on Wednesday the imposition of new sanctions on 35 entities and ships linked to Iran's "shadow fleet," involved in the illegal export of oil.
As reported by Reuters on Wednesday, US authorities have imposed these new sanctions on 35 entities and ships of Iran's "shadow fleet."
"Iran continues to allocate revenues from oil trading to the development of its nuclear programme, the proliferation of ballistic missile technologies and unmanned aerial vehicles, and support for regional terrorist proxies, risking further destabilisation of the region," stated Bradley Smith, Deputy Assistant Secretary of the Treasury for Terrorism and Financial Intelligence.
The new sanctions are being imposed a few weeks before the inauguration of President Donald Trump. The Joe Biden administration has long been criticised by Republicans and Iranian opposition groups for insufficient enforcement of oil sanctions against the Islamic Republic of Iran. The Polish Press Agency reminds us that during Donald Trump's presidency, pressure on Tehran reduced oil exports to approximately 48,000 tonnes per day. However, in August last year, Iranian oil exports rose to over 317,000 tonnes per day.
Since then, exports have systematically decreased, mainly due to reduced purchases by Iran's main client, China. In September, exports amounted to roughly 260,000 tonnes per day, in October they fell to about 217,000 tonnes, and in November to around 188,000 tonnes.
According to Reuters, citing information from Western intelligence, Iran and allied Iraqi militias, who also conduct illegal oil exports, earn between £780 million to £2.35 billion annually from illegal fuel trading.
