ERBIL, Kurdistan Region of Iraq – The US Department of the Treasury on Thursday imposed sanctions on 29 vessels and their respective management firms allegedly part of an “Iranian shadow fleet” exporting Tehran’s petroleum, including an Egyptian businessman reportedly involved in several shipments.

Since returning to the White House in January, US President Donald Trump has adopted increasingly tougher policies against Iran. In February, he signed a national security presidential memorandum, restoring his maximum pressure policy on Iran and detailing a series of new economic measures against the Islamic Republic. 

Since September, Iran has been facing heavy international sanctions due to non-compliance with its nuclear energy obligations.

The US Department of the Treasury said on Thursday its Office of Foreign Assets Control (OFAC) is “targeting 29 shadow fleet vessels and their respective management firms that have transported hundreds of millions of dollars’ worth of Iranian petroleum products,” adding that Tehran is exporting petroleum products “through deceptive shipping practices.”

“[The] Treasury will continue to deprive the regime of the petroleum revenue it uses to fund its military and weapons programs,” said Treasury Under Secretary for Terrorism and Financial Intelligence John K. Hurley.

US President Donald Trump’s administration has sanctioned over nearly 200 vessels responsible for shipping Iranian petroleum and related products.

Iran is believed to fund regional proxies to create instability while also using revenue from oil and petroleum exports to support its nuclear development activities.

Hurley stressed that Washington “will not allow Iran to have a nuclear weapon.” 

Thursday’s sanctions also target Hatem Elsaid Farid Ibrahim Sakr, an Egyptian businessman whose companies the Treasury says are believed to be “associated with seven of the 29 shadow fleet vessels.”

The US bombed the key Iranian Natanz and Fordow nuclear sites in the country near the end of the conflict with Israel in June, where Israel killed top brass Iranian military commanders and nuclear scientists with airstrikes, prompting retaliatory attacks by Tehran, with the two trading salvos of missiles and drones for 12 days.

The war erupted while Iran was engaged in nuclear negotiations with the US, leading to stalled dialogue between Tehran and Washington, followed by a series of international sanctions on Tehran for failing to meet its nuclear obligations.

In a meeting with his Russian counterpart Sergey Lavrov in Moscow on Wednesday, Iranian Foreign Minister Abbas Araghchi gloated that “Iranians have a PhD in circumventing US sanctions.”