The U.S. Treasury Department has sanctioned over two dozen assets related to Iran, including 13 tanker vessels, in its latest push to crack down on the forces allegedly behind the Red Sea crisis. The Biden Administration is taking action in the waning days of the administration, with a new presidential administration taking office in just over two months.
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced the sanctions yesterday, November 14th. The organization in question is the Al-Qatirji Company, which the U.S. government alleges is behind major funding to Iran’s paramilitary arm, the Iranian Revolutionary Guard Corps’ (IRGC) Qods Force. The Qods Force is said to be behind many attacks in the Red Sea.
What’s behind Treasury’s decision to sanction the organization and vessels?
By sanctioning tankers associated with the IRGC, the U.S. government is sending a message to Iran that it is further pushing back against Red Sea attacks and other disruptions in the region.
13 tankers associated with the organization in question were cited under the sanctions action. They are registered in a variety of countries, including Iran, Panama, Guyana, Barbados, and more.
The U.S. government alleges that the organization in question shipped oil with these tanker vessels, thereby assisting the IRGC and Iran at-large. There are also reports that the ships were provided as assets to Iran and its paramilitary arm.
Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence, Bradley Smith, said in a statement:
“Iran is increasingly relying on key business partners like the Al-Qatirji Company to fund its destabilizing activities and web of terrorist proxies across the region.” He added, “Treasury will continue to take all available measures to restrict the Iranian regime’s ability to profit from the illicit schemes that enable its dangerous regional agenda.”
