The U.S. Sanctions the 'Ghost Fleet' Network for Smuggling Iranian Oil

The U.S. Treasury Department has announced sanctions against 35 companies and oil tankers involved in smuggling Iranian oil. According to a statement published on Tuesday, December 4, on the U.S. Treasury's website, 14 companies registered in India, the UAE, China, Hong Kong, Pakistan, Liberia, the Marshall Islands, and Iran have been added to the U.S. sanctions list. Additionally, 21 oil tankers involved in smuggling Iranian oil, petroleum products, and petrochemicals, known as the 'Ghost Fleet' or 'Shadow Fleet,' have also been sanctioned. Previously, Claire Jungman, the director of tanker tracking at the Alliance Against Iranian Nuclear Weapons, told Radio Farda that this organization has identified about 400 tankers in the 'Shadow Fleet' that were involved in smuggling Iranian oil, many of which are not yet on the U.S. sanctions list. The energy consulting firm, Vortexa, also announced last month that at least 190 supertankers are among the 'Shadow Fleet,' each capable of carrying two million barrels, and 60% of them remain unsanctioned. The 'Ghost Fleet' refers to tankers that secretly deliver oil shipments to destination markets by turning off their automatic identification systems and employing various methods, including repeatedly transferring oil shipments in the oceans to other tankers and altering documents and oil branding. The U.S. Treasury states that this new action to sanction companies and tankers involved in smuggling Iranian oil is a response to Iran's missile attack on Israel on October 1, escalating nuclear tensions, and is part of completing the sanctions list from October 11 against Iran, imposing further costs on the Iranian regime's oil revenues. The statement adds that oil revenues provide financial resources for the Iranian regime to fund its nuclear budget, develop advanced drones and missiles, and continue financial and material support for the terrorist activities of proxy forces in the region. Bradley T. Smith, the Deputy Assistant Secretary of the Treasury for Terrorism and Financial Intelligence, states that Iran continues to direct its oil trade revenues towards developing its nuclear program, proliferating ballistic and drone technology, and supporting regional terrorist groups, which poses a risk of further instability in the region. He emphasized that the United States is committed to disrupting the Shadow Fleet and the operators involved in facilitating the illegal smuggling of Iranian oil. The U.S. Treasury's statement indicates that Iran relies on a vast network of tankers and maritime transport management companies to transfer its oil to foreign customers using tactics such as document forgery, manipulation of ship tracking systems, and continuous changes of ship names and flags.