The United States Sanctions Iran's Oil Minister and Several Companies and Vessels

On Thursday, March 14, the United States continued its maximum pressure policy against the Islamic Republic by sanctioning Mohsen Paknejad, the oil minister, along with several companies and oil tankers involved in the sale of Iranian oil. The U.S. State Department announced in a statement that three companies active in the sale of Iranian oil were sanctioned, and three vessels used for smuggling Iranian oil are also considered blocked assets. The statement adds that the sanctioned companies serve the Islamic Republic's fleet in transferring oil ship-to-ship outside Southeast Asian ports, enabling the Iranian government to conceal its efforts for illegal oil trade. It also notes the simultaneous sanctioning of Paknejad, the Iranian oil minister, and dozens of companies and vessels involved in the illegal sale of Iranian oil to China, reminding that the Iranian government and the Revolutionary Guard, with the help of Mohsen Paknejad, are stealing Iran's national oil wealth. The U.S. State Department clarified that the sanctions imposed on Thursday aim to advance Donald Trump's maximum pressure policy, intending to end the Islamic Republic's nuclear threat, limit its missile program, and prevent the government from supporting its proxy terrorist groups by reducing oil exports to zero, especially to China. The U.S. diplomatic apparatus concluded the statement by asserting its commitment to disrupting the financing of malicious activities and limiting the financial resources available to corrupt officials of the Islamic Republic. Concurrently, the Office of Foreign Assets Control of the U.S. Treasury Department added the Iranian oil minister and dozens of companies and vessels to its Specially Designated Nationals list. According to the Treasury Department's statement, Mohsen Paknejad, born in Tehran on June 12, 1966, has been added to the U.S. Specially Designated Nationals list. The statement adds that Paknejad oversees the sale of tens of billions of dollars of Iranian oil and has allocated billions of dollars from the revenues of Iranian oil sales to the Islamic Republic's armed forces. Additionally, companies based in Iran, Bangladesh, the Marshall Islands, Seychelles, Hong Kong, the United Arab Emirates, India, Sri Lanka, Indonesia, Suriname, and Singapore, as well as vessels and oil tankers flying flags from countries such as Iran, Indonesia, Palau, Cameroon, Panama, Hong Kong, San Marino, and Barbados, have also been added to the Specially Designated Nationals list. U.S. Treasury Secretary Scott Busent stated that the Islamic Republic continues to use revenues from Iran's vast oil resources to advance its shortsighted interests at the expense of the Iranian people. He promised that the Treasury Department would counter any efforts by the Islamic Republic to finance its destabilizing activities and advance the dangerous policies of this government. The U.S. also sanctioned a criminal network cooperating with the Iranian government in Sweden, while Canada sanctioned three individuals and four entities linked to the Islamic Republic. The U.S. State Department emphasized that it will hold the Iranian regime accountable using all available tools. Sanctions were also imposed on an Iranian individual related to facilitating fentanyl sales and virtual money laundering, and the U.S. sanctioned a network supplying the Islamic Republic's 'drone program.'