The United States Department of the Treasury's Office of Foreign Assets Control (OFAC) on Thursday (Feb 6) sanctioned an international network. The fresh sanctions were slapped, including on an Indian company, for facilitating the shipment of millions of barrels of Iranian crude oil worth hundreds of millions of dollars to China. 

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The move is consistent with US President Donald Trump's National Security Presidential Memorandum, which directed the Treasury Department and other US government agencies to put maximum economic pressure on Iran. The US aims to deny Iran from obtaining a nuclear weapon and also counter its alleged malign influence. 

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In an official statement, the department stated that the oil was shipped on behalf of Iran's Armed Forces General Staff (AFGS) and its sanctioned front company, Sepehr Energy Jahan Nama Pars (Sepehr Energy). 

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The statement mentioned that the action includes entities and individuals in multiple jurisdictions, including China, India and the United Arab Emirates (UAE), as well as several vessels. 

The statement claimed that Iran generates the equivalent of billions of dollars each year through oil sales to fund its destabilising regional activities. 

The statement further alleged that the funds help support multiple regional terrorist groups, including "Hamas, the Houthis, and Hizballah". The AFGS utilises networks of foreign-based front companies and brokers to enable these oil sales and shipments. 

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As quoted, Secretary of the Treasury Scott Bessent said, "The Iranian regime remains focused on leveraging its oil revenues to fund the development of its nuclear program, to produce its deadly ballistic missiles and unmanned aerial vehicles, and to support its regional terrorist proxy groups." 

"The United States is committed to aggressively targeting any attempt by Iran to secure funding for these malign activities," Bessent added.  

While speaking about the sanctions, Tammy Bruce, a State Department spokesperson said as quoted by news agency Reuters, "We will use all tools at our disposal to hold the regime accountable for its destabilising activities and pursuit of nuclear weapons that threaten the civilized world." 

Marshal Ship Management Private Limited 

According to the statement, India-based crew management company Marshal Ship Management Private Limited provided crew members for the SIRI, as well as multiple other Sepehr Energy-linked ships, including the sanctioned vessels ELSA, HEBE and BOREAS. 

Crew members provided by Marshal Ship Management Private Limited have aided Sepehr Energy in falsifying shipping documents and presenting those documents to port authorities, the statement mentioned. 

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Indian national Ryan Xavier Aranha acts as a director for Marshal Ship Management Private Limited, which maintains additional offices in the Philippines and the UAE. 

The sanctions also designated Iranian national Arash Lavian, who the US said helped support Sepehr. Treasury also blocked sanctions on the Panama-flagged CH Billion tanker and the Hong Kong-flagged Star Forest tanker for their role in shipping Iranian oil to China. 

Young Folks International Trading Co and Limited and Lucky Ocean Shipping Limited were also designated for operating in Iran's petroleum sector. 

(With inputs from agencies)