The Maritime Executive, a specialized publication in the shipping industry, reported that the new sanctions imposed against Iran’s regime under the snapback mechanism will be much stricter than the current restrictions and will seriously impact the regime’s shipping industry.
In a report published on Sunday, September 21, Maritime Executive wrote that if United Nations Security Council sanctions return as expected on September 26, the commercial fleet of the Islamic Republic of Iran Shipping Lines (IRISL) and its subsidiaries will come under pressure. According to The Maritime Executive, this fleet consists of 115 ships.
The journal added that 38 very large crude carriers (VLCCs) owned by the National Iranian Tanker Company (NITC) will also face new restrictions, putting Iranian oil stored in floating tankers and ship-to-ship (STS) transfers at greater risk.
On Friday, September 19, the United Nations Security Council voted against attempts to delay the reinstatement of sanctions that were suspended in 2015 following the nuclear deal known as the JCPOA.
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This decision paved the way for the reimposition of sanctions under the snapback mechanism. French President Emmanuel Macron stressed on Friday, September 19, that the return of sanctions against the Iranian regime is certain.
The UN Security Council’s decision to continue the snapback process sparked strong reactions from Iranian regime officials. The Supreme National Security Council announced the suspension of cooperation with the International Atomic Energy Agency (IAEA), while several members of parliament called for withdrawal from the Non-Proliferation Treaty (NPT) and even for the development of a nuclear bomb.
Currently, the Iranian regime is under unilateral sanctions imposed by the United States and some Western countries. However, the return of UN Security Council sanctions will force countries such as China, India, Malaysia, and the United Arab Emirates, which continue to trade with Iran under the pretext of lacking international legitimacy for the sanctions, to comply with them.
UN sanctions cover the areas of oil and gas exports, shipping and insurance, banking and access to the international financial system, and the production and import of weapons and sensitive technologies.
The Maritime Executive concluded its report by stressing that with the return of UN sanctions, Iran’s regime will face a new wave of international pressure in the fields of energy, trade, and finance—a pressure that could further cripple the regime’s economy and bring wide-ranging political consequences both domestically and internationally.
Global Trade Review also reported on September 1 that U.S. President Donald Trump, in line with his administration’s “maximum pressure” policy against the Iranian regime, had promised to reduce Tehran’s oil exports to zero. According to this report, one-third of U.S. sanctions specifically target Iran’s shipping sector.
The Global Trade Review wrote that the White House has specifically focused on weakening Iran’s “shadow fleet” and its energy revenues. One-third of all sanctions target Iranian shipping. Now, the scope of sanctions has expanded beyond ships to include Chinese refineries and crude oil storage operators.
Earlier, on August 21, the U.S. Treasury Department sanctioned 13 shipping companies and eight oil tankers linked to the Iranian regime in an effort to counter Tehran’s attempts to circumvent Washington’s sanctions.
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On the same day, the British government, in coordination with the United States and the European Union, sanctioned Hossein Shamkhani, the son of Ali Shamkhani (a senior adviser to regime supreme leader Ali Khamenei and a key figure in the sale of Iranian and Russian oil), along with his affiliated companies.
In addition to Shamkhani himself, his Dubai-based companies, including Admiral Shipping Group and Milavos Group, have also been targeted by the new sanctions.
Additionally, Ocean Leonid Investments, a London-based firm, has been sanctioned by the UK. This investment fund plays an important role in Hossein Shamkhani’s economic empire.
