President Joe Biden has levied new sanctions on Iran following the latter’s wave of missile attacks against Israel.
Iran recently directly attacked Israel with over 300 ballistic missiles and drones, most of which were deflected by the latter with the US’ and allies’ aid.
President Biden’s sanctions attempt to punish Iran for their destabilizing bellicose acts and to prevent Iran’s circumvention of previous sanctions against its oil exports via its infamous ‘ghost fleet.’
"In response to Iran’s attack on Israel, the United States is taking decisive action to further disrupt the Iranian regime’s ability to fund and carry out its destabilizing activity,” said Secretary of the Treasury Janet L. Yellen. “Today’s sanctions target Iranian efforts to channel revenues from its energy industry to finance deadly and disruptive activity.”
The US previously sanctioned Iran’s oil sector in 2018 to dissuade the country from financing terrorist organizations like Hezbollah and Hamas, cartel activity, and perfidious nuclear development.
Since then, Iran has attempted to circumvent US sanctions through numerous shrewd maneuvers.
One such maneuver has been surreptitiously exporting oil by transporting it on a ‘ghost fleet,’ foreign ships frequently changing their registry nation in order to avoid regulation.
The United Against Nuclear Iran (UANI) nonprofit discovered and exposed such scheme, which included 189 Panamanian vessels.
The ‘ghost fleet’ was then targeted by bipartisan Senatorial efforts led by US Senator Marco Rubio (R-FL) earlier this year.
Senator Rubio and Senator Bob Casey (D-PA) communicated the illegal operation to Panamanian authorities, which then began to investigate and remove suspected ships from Panamanian ports.
Biden’s recent sanctions bolster the Panamanian authorities’ attempts to counter illicit Iranian oil shipments.
US-Iran tensions have reached unprecedented levels, as the latter has increased hostile activity against the former and its allies since Hamas’ October 7th attacks.
