Cutting Off Iran's Support for Terrorism

The United States has acted to further stem the flow of the Iranian regime’s revenue used to support terrorism and other illicit activities.

The Department of the Treasury has sanctioned 29 shadow fleet vessels engaged in the covert delivery of hundreds of millions of dollars’ worth of Iranian oil and petroleum products. These vessels are owned and operated by a group of companies that operate out of various jurisdictions and are largely established for the sole purpose of owning and managing their respective vessels.

Among the entities sanctioned is a network of companies and vessels operated by Hatem Elsaid Farid Ibrahim Sakr, an Egyptian businessman, and several companies active in countries including the United Arab Emirates, India, the Marshall Islands, and Panama. This action further constrains Iran’s ability to export petroleum and petroleum products through obscure and fraudulent mechanisms.

The Office of Foreign Assets Control has taken actions against the shadow fleet that Iran relies on to evade sanctions and transport petroleum to end users in Asia. Since President Trump resumed office, his administration has sanctioned more than 180 vessels responsible for shipping Iranian petroleum and petroleum products, driving up costs for Iranian oil exporters and reducing the revenue Iran receives for each barrel of oil sold.

The United States will continue pursuing measures to implement National Security Presidential Memorandum 2, which directs the imposition of maximum pressure on the Iranian regime to deprive it of the revenues that fund its destabilizing activities.

The United States will not hesitate to utilize all available tools at our disposal to counter those who enable Iran’s illicit oil trade.

“As President Trump has said repeatedly, the United States will not allow Iran to have a nuclear weapon,” said Treasury Under Secretary for Terrorism and Financial Intelligence John Hurley. “Treasury will continue to deprive the regime of the petroleum revenue it uses to fund its military and weapons programs.”