Commodities

US Imposes Sanctions on Shipment of Iranian Oil to Syria and East Asia, Reports Reuters

U.S. Sanctions Target Iranian Shipping Operations

The U.S. Department of Treasury has imposed sanctions on over a dozen entities and vessels due to their roles in transporting Iranian oil and liquid petroleum gas to Syria and East Asia, in support of Iran’s Revolutionary Guards and Hezbollah.

Among those sanctioned are four ships linked to Syrian shipping magnate Abdul Jalil Mallah, who has been under U.S. sanctions since 2021, as well as his brother, Luay al-Mallah, who was also designated on Wednesday.

According to the Treasury Department, the Mallah brothers have "continued to use their shipping empire to support Iran’s malign activities and those of its proxies."

Bradley T. Smith, the acting under secretary of the Treasury for Terrorism and Financial Intelligence, noted, “Iran continues to rely heavily on the illicit sale of oil and liquid petroleum gas by the Revolutionary Guards and Lebanese Hezbollah to fund its terrorist proxies and destabilizing activities.”

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