Current Affairs

U.S. Targets Iran Shipping Network With New Sanctions

The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced new sanctions targeting Iranian shipping networks, adding multiple firms and eight vessels to the Specially Designated Nationals (SDN) list. The measures target entities across Hong Kong, the UAE, India, Qatar, Singapore, China, Liberia, and the Marshall Islands allegedly involved in Iranian petroleum and petrochemical trades. The sanctions freeze U.S.-linked assets and prohibit U.S. persons from engaging in transactions with the targeted parties.