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

Washington, Dec 4 (PTI): The United States on Tuesday imposed sanctions on 35 entities and vessels, including two from India, for transporting Iranian oil to other countrie.

Written By : PTI | Updated at : 04 Dec 2024 04:05 AM (IST)

Washington, Dec 4 (PTI): The United States on Tuesday imposed sanctions on 35 entities and vessels, including two from India, for transporting Iranian oil to other countries. The two India-based entities are Vision Ship Management LLP that manages and operates the PHONIX, and Tightship Shipping Management (OPC) Private Limited.

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

In a statement, the Department of Treasury said this action imposes additional costs on Iran’s petroleum sector following Iran’s attack against Israel on October 1, as well as Iran’s announced nuclear escalations, building upon the sanctions issued on October 11.

Petroleum revenues provide the Iranian regime with the resources to fund its nuclear program, develop advanced drones and missiles, and provide ongoing financial and material support for the terrorist activities of its regional proxies, it said.

Acting Under Secretary for Terrorism and Financial Intelligence Bradley T Smith said, “Iran continues to funnel revenues from its petroleum trade toward the development of its nuclear program, proliferation of its ballistic missile and unmanned aerial vehicle technology, and sponsorship of its regional terrorist proxies, risking further destabilizing the region.” The United States remains committed to disrupting the shadow fleet of vessels and operators that facilitate these illicit activities, using the full range of our tools and authorities, he said.

According to the Treasury, India-based Vision Ship Management LLP manages and operates the PHONIX, formerly known as the LUNA LAKE, which has carried millions of barrels of Iranian crude oil for CCPC since 2022.

Vision Ship Management LLP also owns, manages, and operates the Cook Islands-flagged RIO NAPO (IMO: 9256913) and the Panama-flagged LARA II (IMO: 9321421). The RIO NAPO previously transported 35,000 metric tons of Iranian naphtha worth approximately $21.5 million to the UAE, it said.

India-based Tightship Shipping Management (OPC) Private Limited manages or operates the OLIVE, BLACK PANTHER, and LIONESS, which have collectively carried tens of millions of dollars’ worth of Iranian oil for NIOC since at least 2022.

The BLACK PANTHER has engaged in ship-to-ship transfers of Iranian oil with Iranian-flagged vessels.

Tightship Shipping Management (OPC) Private Limited is involved in the management of a fourth vessel, the Panama-flagged TONIL (IMO: 9307932), which is managed and operated by Ukraine-based Lightship Management Ltd and has skirted sanctions to carry millions of barrels of oil for Iran, the Treasury alleged.

Tightship Shipping Management (OPC) Private Limited and Lightship Management Ltd are being designated pursuant to E.O. 13902 for operating in the petroleum sector of the Iranian economy.

The OLIVE, the BLACK PANTHER, and the LIONESS are being identified as property in which Tightship Shipping Management (OPC) Private Limited has an interest.

The TONIL is being identified as property in which Lightship Management Ltd has an interest. PTI LKJ NB NB

(This story is published as part of the auto-generated syndicate wire feed. No editing has been done in the headline or the body by ABP Live.)