US Sanctions Iran, Targets 'Ghost Fleet'

The United States has imposed new sanctions on Iran's petroleum and petrochemical sectors in response to Iran's missile attack on Israel on October 1, 2024. These measures aim to restrict Iran's financial resources used to support its missile programs and affiliated terrorist groups. Among the entities sanctioned is the Indian company Gabbaro Ship Services, accused of facilitating the transport of Iranian oil via the 'Ghost Fleet'. The US Treasury and State Departments announced these sanctions to intensify financial pressure on Iran, citing the involvement of 16 entities and 17 vessels in shipments supporting the National Iranian Oil Company. This move is part of a broader strategy to limit Iran's energy revenue and its capacity to destabilize the region.