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yesterday

U.S. Hits Iran–Venezuela Arms Network and Maduro’s Oil Lifeline With New Sanctions

The designations intensify a coordinated U.S. drive to disrupt Iran–Venezuela weapons ties, constraining Maduro’s oil revenue.

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023.  REUTERS/Kevin Lamarque
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Overview

  • OFAC sanctioned 10 targets tied to Iran’s drone and missile programs, including Venezuela’s Empresa Aeronáutica Nacional S.A. (EANSA) and its chairman José Jesús Urdaneta González for assembling Iranian-designed UAVs.
  • Treasury also listed Iran-based procurement actors accused of sourcing missile-related chemicals for Parchin Chemical Industries and entities linked to Rayan Fan Kav Andish, with actions taken under E.O. 13382 and 13949.
  • The measures block U.S.-held property, bar most dealings by U.S. persons, and warn foreign institutions of secondary-sanctions exposure for significant transactions with the designated parties.
  • In a separate action, Treasury targeted oil traders and four tankers alleged to support Venezuela’s ‘shadow fleet’—Nord Star, Rosalind (also known as Lunar Tide), Della and Valiant—along with Corniola Limited, Krape Myrtle Co, Winky International Limited and Aries Global Investment Ltd.
  • Enforcement continues alongside the listings, with two Venezuela-linked tankers seized, a third pursued, ongoing strikes on suspected drug-smuggling boats, and reporting of a CIA drone strike on a Venezuelan dock facility.