Overview
- The Treasury Department designated 29 vessels and their management firms for covertly transporting hundreds of millions of dollars’ worth of Iranian petroleum using deceptive shipping practices.
- Targets include a network linked to Egyptian businessman Hatem Elsaid Farid Ibrahim Sakr, with companies active in the United Arab Emirates, India, the Marshall Islands and Panama.
- Officials describe the action as part of a broader effort to restrict Iran’s oil sales connected to concerns over its nuclear activities and support for regional proxies.
- Treasury Under Secretary John Hurley said the department will work to deprive Tehran of petroleum revenue used for its military and weapons programs.
- The latest step follows recent enforcement moves, including the Dec. 10 seizure of the tanker Skipper off Venezuela.