US imposes fresh sanctions on Iran
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Iranian flag with stock graph and an oil pump jack miniature model are seen in this illustration taken October 9, 2023. — Reuters

DUBAI: The United States has imposed fresh sanctions targeting companies and individuals in the United Arab Emirates (UAE) and Turkiye accused of helping Iran procure weapons components and move oil through so-called “shadow fleet” vessels.

In a statement, the US State Department said the measures focus on networks operating from Iran, Turkiye and the UAE that allegedly support Tehran’s ballistic missile and advanced conventional weapons programmes. The US also blacklisted several vessels said to have transported hundreds of millions of dollars’ worth of Iranian petroleum and petrochemicals.

US authorities allege entities were part of efforts to facilitate Iranian oil shipments or procurement activity. There was no immediate public response from the companies. Several Turkish companies were also added to the sanctions list.

The US Treasury said these firms were linked to procurement networks tied to Iranian aviation and defence-related entities.

In addition to companies, multiple shipping firms registered in jurisdictions were sanctioned, along with a number of oil and LPG tankers accused of being part of Iran’s “shadow fleet”.

The United States said the action was taken under executive orders targeting weapons proliferation and key sectors of Iran’s economy. The move is part of broader efforts to restrict revenue streams that the US says fund Iran’s missile development and regional proxy activities.

The sanctions could increase compliance pressure on businesses in the UAE and Turkiye, both of which serve as major regional trade and logistics hubs with extensive links to global energy markets.





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