More sanctions

With the military build-up of allied forces, particularly US ones, continuing near Iran, the US Treasury Departments Office of Foreign Assets Control (OFAC) has imposed sanctions on nine vessels and eight management companies that it accused of being linked to the movement of Iranian oil. OFAC said that the vessels and their managers had together moved hundreds of millions of dollars-worth of Iranian oil, LPG and petrochemicals to foreign markets. It is thought that this revenue is diverted away from the civilian economy and towards militant proxies, weapons programmes and internal security forces. The sanctions align with the administration's broader maximum pressure campaign.