Treasury Blacklists Shipping Network For Supporting Iran

Law360 (September 5, 2019, 8:11 PM EDT) -- The Trump administration slapped sanctions on a massive Iranian petroleum shipping network for supporting Iran's Islamic Revolutionary Guard Corps and Hezbollah, according to an announcement from the U.S. Department of the Treasury.

The department said Wednesday that the network is run by and financially backs IRGC and Hezbollah, and that IRGC has used the network to transport oil for Syrian President Bashar al-Assad's regime, Hezbollah and others.

Treasury's Office of Foreign Assets Control sanctioned 16 entities and nine individuals, and identified 11 vessels that are related to the network, the department said.

"Iran continues to take provocative actions to destabilize the...

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