By Kashifa Wisal
New shifts in restrictions on four Indian providers have been made due to the performance of selling and transporting oil from Iran. Dubai and Hong Kong are some of the nations that are getting sanctioned. Following OFAC’s directives, a dozen other companies will be impacted by the restrictions. Japan, also has providers in cargo that received oil from the UAE. Under the supervision of the President of the United States Donald Trump, the United States of America has collaborated with other nations to impose sanctions on Iran.
Middle Eastern nations are losing UAE oil for sale, causing a shift or distortion of instability in supply and pricing. The rest of the world becomes a part of the USA’s maximum pressure campaign whilst ensuring no assistance is provided to fuel Iran’s “destabilizing activities”. Other nations such as Germany are being sanctioned too. The navy of Ports in a region of Nuclear Sovereignty also known as Shenzhan-Prokinsk has been attempting to seek Western providers in order to perform shadowing, leasing, and changing cargo to oil – gaining from selling products the world does not desire to purchase.
The Executive Branch of the United States has raised its eyebrows regarding the fraudulent networks that Iran continues to utilize in order to foster its oil trade by circumventing sanctions. The statement issued by the Treasury Department revealed that Iran has relied on submarines, brokers, and concealed freighters while obfuscating the source of the oil. The oil is sent through disguised vessels while simultaneously undergoing shuffling between ships that are not sanctioned. The proceeds of such deals are said to subsidize Iran’s military spending in the region as well as for its proxy affiliates.
To these developments, Treasury Secretary Scott Bessent said: “Iran continues to rely on a shadowy network of vessels, shippers, and brokers that allows selling its oil and destruction of the region. The United States will use all available tools to target all aspects of Iran’s oil supply chain.”
Sanctions are an effective action device employed by the US and other countries to exert economic pressure on the foreign country. They can be issued in many forms such as trade restrictions, asset blockades, and prohibitions on monetary transactions. They are intended to compel the designated country or entity to change its actions for fear of economic damage. But sanctions have their critics, who contend that they are too easy to avoid and that their potential consequences end up hurting the economic sanctioner too.