U.S. sanctions Iranian oil traders
The United States has sanctioned eight companies and vessels involved in Iran’s oil trade, aiming to cut off funds that support Iran’s nuclear program, missile development, and terrorist groups, reports a Kazinform News Agency correspondent.
The sanctions, under Executive Order 13846, block these entities’ U.S.-linked assets and prohibit transactions with them.
According to the official statement of the U.S. Department of State, the targeted companies are based in India, the UAE, Malaysia, and Seychelles. They are accused of transporting or selling Iranian oil through deceptive shipping practices. Among them are BSM Marine LLP, Kangan Petro Refinery, Cosmos Lines Inc., Alkonost Maritime DMCC, Austinship Management, Oceanend Shipping Ltd, IMS Ltd, and Octane Energy Group FZCO. Several vessels linked to these firms have also been identified and blocked.
The move is part of the U.S. government’s broader strategy to pressure Iran by limiting its revenue sources. All entities with significant ties to the sanctioned firms are also affected. Transactions involving these entities, whether by U.S. individuals or within U.S. jurisdiction, are prohibited unless specifically authorized.
The U.S. stresses that sanctions are meant to change behavior, not just punish. The government has the authority to remove individuals and entities from its sanctions list if they comply with international regulations.
Earlier, North Korea reportedly reaffirmed its commitment to strengthening its nuclear capabilities and criticized the United States for pursuing what it described as an “outdated and absurd” plan for the North’s denuclearization.
