Energy Markets
US sanctions target Iran's shadow fleet operations
The United States announced new sanctions on Iran's "shadow Fleet" on Thursday. They cited an individual, as well as groups in India and the United Arab Emirates whose vessels had transported Iranian oil. The Treasury Department has cited Indian national Jugwinder Sing Brar who is based in the United Arab Emirates. He owns shipping firms with a fleet that includes nearly 30 vessels. The Department of Energy said that Brar's vessels were involved in ship-to-ship transfers of Iranian oil in the waters near Iraq, Iran and the Gulf of Oman. Treasury released a statement that said the sanctions target also...