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U.S. Sanctions 35 Entities and Vessels to Disrupt Iranian Oil Trade with China

Dec 3, 2024, 03:13 PM

The U.S. has expanded its sanctions targeting Iranian-linked activities, adding 14 entities and 23 vessels to its Specially Designated Nationals (SDN) list. These sanctions aim to disrupt the transportation of Iranian oil to foreign markets, particularly affecting the trade with China, Iran's most valuable customer. The move follows previous actions in October and is in response to Iran's attack on Israel and its nuclear activities. The sanctions have led to reduced flows of Iranian oil, higher prices, and concerns among ship operators about being turned away from Chinese ports. The U.S. Treasury has targeted multiple vessels listed on the Ghost Fleet list.