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US Broadens Sanctions on Tankers to Squeeze Flows of Iranian Oil

An Iranian national flag flies at the Persian Gulf Star Co. (PGSPC) gas condensate refinery in Bandar Abbas, Iran, on Wednesday, Jan. 9. 2019. The third phase of the refinery begins operations next week and will add 12-15 million liters a day of gasoline output capacity to the plant, Deputy Oil Minister Alireza Sadeghabadi told reporters. Photographer: Ali Mohammadi/Bloomberg (Ali Mohammadi/Bloomberg)

(Bloomberg) -- The US has sanctioned more tankers and companies it alleges are involved in the trade of Iranian oil, which generates revenue that supports Tehran-backed militia groups such as Hamas and the Houthis.

Nine vessels and eight companies were added to the sanctions list, with the State Department and Treasury Department both taking action, according to a government statement on Thursday. Sanctioned ships include the MS Enola, which has been involved in the Iranian oil trade for several years.

US penalties have disrupted the export of Iranian crude to China, its biggest buyer, and President-elect Donald Trump’s pick for national security adviser recently vowed “maximum pressure” on Tehran. The Biden administration is also considering new sanctions on Russia’s oil trade.

Since Oct. 11, the US has added more than 70 vessels to its sanctions list. Many of them are supertankers used to haul Iranian crude to China.

Separately, the US sanctioned the financing channels of the Houthi militants in Yemen, including three Malaysia-based companies that provided services to ship Iranian petroleum and commodities to East Asian customers.

©2024 Bloomberg L.P.