US strikes it with new sanctions “floats in shadow” of Iran

The United States has imposed new sanctions on Iran's “shadow float”. Sanctions hit an individual and headquarters groups in India and the United Arab Emirates, whose ships have transported Iranian oil.

The American Treasury Department said that Emirate-based Indian national Jugwinder Singh Brar has been sanctioned. According to Treasury, it has transport companies with a fleet of almost 30 ships, REL reports Periscope.

His “allies are involved in dangerous transport from ship to Iranian oil ships to waters near Iraq, Iran, the United Arab Emirates and Oman Bay”, the Treasury said through a statement.

Sanctions have also targeted two entities from the Emirates and two from India that own and operate on Brain ships and that have transported Iranian oil on behalf of the Iranian National Oil and Iranian Army Company, the American Treasury said.

Iranian “Regime relies on its network of transporters and mediators, like Brar and his companies, to enable the sale of oil and finance its destabilising activity”, Treasury Secretary Scott Bessent said.

The treasury said the US remains focused on preventing the “all elements of Iranian oil export”, in private of those derived from this trade.

President of the United States, Donald Trump, has said it aims to bring Iran's crude oil exports to zero. His country has targeted people and companies that facilitate the sale of millions of Iranian oil powers.

Iran's economy depends heavily on oil revenues and, as the U.S. State Department declared on February 6th, these revenues are used to finance <x0-group terrorist groups and the network of collaborators”, referring to Iran's regional network made up of armed groups opposing Israel and the US.

Under the nuclear agreement, reached in 2015 between Iran and world powers, US sanctions were lifted, allowing Iran to sell oil. The Trump withdrew from the deal in 2018 and restored sanctions that reduced exports to about 400,000 barrels a day.

Later, Iran increased exports through avoidance of sanctions. The shadowed “Flota” of Iran's tankers has been essential to Tehran's ability to avoid sanctions and transport oil secretly.

This includes shipping from ship to ship, through brokers, hidden financial transactions, and re-installing oil by hiding Iranian origin and making it appear to come from another country.

These methods have allowed Iran to continue remitting oil and generate revenues despite sanctions. / REL