US Treasury launches 'Operation Economic Outcast' and lists five Iran-linked tankers

The US Treasury launched what it calls Operation Economic Outcast on 24 August, with the Office of Foreign Assets Control sanctioning nearly 60 entities, individuals and vessels it accuses of enabling the Iranian government. Five of them are ships that Treasury says belong to Iran's shadow fleet and have carried millions of barrels of Iranian crude and petroleum products without authorisation: the LPG tankers Sifra (Botswana flag) and G Silver (Cameroon), and the crude tankers Quantum Hope (Vanuatu), Voyage Elite and Tela (both Gambia). Treasury also issued determinations allowing OFAC to sanction anyone, wherever located, who operates in Iran's shipping, aviation, gold, technology or digital-asset sectors. Treasury Secretary Scott Bessent called the campaign an "economic onslaught".

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