Shadow Fleet Exposed: US Targets Iran’s Secret LPG Network

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) on Friday imposed sanctions on a network of individuals, companies and vessels accused of facilitating the shipment of hundreds of millions of dollars’ worth of Iranian-origin liquid petroleum gas (LPG) disguised as Omani LPG. According to OFAC, the network relied on front companies based in the United Arab Emirates and China, foreign bank accounts and Iran’s so-called “shadow fleet” to transport millions of barrels of LPG while concealing its Iranian origin and bypassing existing US sanctions. The Treasury Department said the sanctions are aimed at exposing and disrupting…