September 03, 2024 | Claire Jungman and Daniel Roth
On August 7, Israel’s National Bureau for Counter-Terror Financing (NBCTF), part of the Ministry of Defense, sanctioned 18 tankers for their involvement in the illicit trade of Iranian oil, marking Israel’s first-ever shipping sanctions. Several of the vessels—with a total deadweight of almost 1.88 million tons—were engaged in “dark” (i.e., transponder-disabled) ship-to-ship (STS) transfers with another U.S.-sanctioned vessel off the Syrian coast. According to Israeli officials, these oil sales were likely overseen by the IRGC-Quds Force. They were helping to finance Iran-backed terrorist proxy and partner groups, including Hezbollah, Hamas, and the Houthis. Twelve of the freshly sanctioned vessels—which are now subject to Israeli “seizure orders”—have also previously transported banned Russian oil, while eight are members of UANI’s Ghost Armada, a fleet of over 400 tankers identified for their role in facilitating Iran’s illicit oil exports.
While China accounts for the lion’s share of Iranian oil exports, Syria is typically in second or third spot, taking in tens of thousands of barrels per day. On this (and other items), Western nations, including the U.S., are generally averse to ruffling Beijing’s feathers. By contrast, the Assad regime is widely recognized and explicitly called out as a malign actor and is broadly subject to tough autonomous sanctions by the U.S., the EU, and the UK.
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