Washington DC [US], June 5 : US is targeting a sophisticated network that has allegedly smuggled millions worth of Iranian liquified petroleum gas (LPG) to markets in South and East Asia.
Thomas Pigott, Spokesperson for the US Department of State, said that the network used front companies in the United Arab Emirates and China, along with Iran’s shadow fleet of vessels, to disguise Iranian-origin fuel and circumvent US sanctions.
“Today, the United States is disrupting Iran’s efforts to evade our sanctions and fund its destabilizing activities. The United States is targeting a sophisticated network that has smuggled hundreds of millions of dollars’ worth of Iranian liquified petroleum gas (LPG) to markets in South and East Asia. This network used front companies in the United Arab Emirates and China, along with Iran’s shadow fleet of vessels, to disguise Iranian-origin fuel and circumvent US sanctions,” the Department of State said in a statement.
“We are also sanctioning an Iranian currency exchange house and its operators who work with other actors to help Iran facilitate billions of dollars in illicit financial transactions. These dealings enable the regime to move funds derived from oil sales while evading the international financial system,” the statement added.
The statement further added that the action is a part of US campaign to exert maximum pressure on Iran.
“These sanctions are part of the Administration’s Economic Fury campaign, which maintains maximum pressure on the Iranian regime and disrupts its ability to generate revenue for weapons development, support for terrorist proxies, and regional aggression. The United States will continue to take steps to hold accountable anyone who facilitates Iran’s sanctions evasion, including foreign companies and financial institutions. We call on the international community to join us in enforcing these measures and preventing Iran from accessing resources that fuel terrorism, weapons proliferation, and instability across the region,” the statement said.
“Today’s action is being taken pursuant to E.O. 13902, which targets persons operating in Iran’s financial and petroleum sectors. These designations will advance the Administration’s Economic Fury and build on a series of OFAC actions targeting Iran’s shadow banking and petroleum sales networks,” as per the statement.
Earlier on May 30, Persian Gulf Strait Authority (PGSA), Iran’s new body to manage the passage of vessels through the Strait of Hormuz, condemned the US sanctions on it and vowed to continue its operations “without interruptions”. (ANI)