The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) on Thursday imposed sanctions on an international network, including an Indian company, for aiding the shipment of millions of barrels of Iranian crude oil to China, valued at hundreds of millions of dollars.

This action complies with former U.S. President Donald Trump's National Security Presidential Memorandum, which instructed the Treasury Department and other agencies to exert maximum economic pressure on Iran. The objective is to prevent Iran from acquiring nuclear weapons and curb its alleged malign activities.

The U.S. Treasury Department announced that the oil shipments were facilitated for Iran's Armed Forces General Staff (AFGS) through its sanctioned frontcompany, Sepehr Energy Jahan Nama Pars (Sepehr Energy).

According to the statement, the sanctions cover entities and individuals from China, India, and the UAE, along with several vessels.It further claimed that Iran's oil sales generate billions of dollars annually, which are used to fund its destabilizing activities in the region.

The statement claimed that the money from these oil sales helps fund groups like Hamas, the Houthis, and Hezbollah. It also said that the AFGS uses foreign companies and brokers to sell and transport the oil.

Marshal Ship Management Pvt Ltd faces scrutiny

According to the statement, India-based Marshal Ship Management Private Limited supplied crew members for the SIRI and several other vessels connected to Sepehr Energy, including the sanctioned ships ELSA, HEBE, and BOREAS.

The statement also alleged that these crew membershelped Sepehr Energy falsify shipping documents and present them to port authorities. Indian national Ryan Xavier Aranha is the director of Marshal Ship Management Private Limited, which also has offices in the Philippines and the UAE.

The US has sanctioned Iranian national Arash Lavian for allegedly helping Sepehr. It has also blocked the Panama-flagged CH Billion tanker and the Hong Kong-flagged Star Forest tanker for shipping Iranian oil to China.

Two more companies, Young Folks International Trading Co. Ltd. and Lucky Ocean Shipping Ltd., have been sanctioned for working in Iran’s oil industry.

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