Treasury Increases Pressure on Iran’s Sanctions-Evading Shadow Fleet

WASHINGTON—Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is placing further pressure on the Iranian shadow fleet, which exports Iranian petroleum and petroleum products through deceptive shipping practices. OFAC is targeting 29 shadow fleet vessels and their respective management firms that have transported hundreds of millions of dollars’ worth of Iranian petroleum products. Today’s action also targets Hatem Elsaid Farid Ibrahim Sakr, an Egyptian businessman whose companies are associated with seven of the 29 shadow fleet vessels included in this action, as well as multiple shipping companies. “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 K.