The United States has imposed sanctions on Iran’s Oil Minister, MOHSEN PAKNEJAD, as well as several Hong Kong-flagged vessels that are part of a shadow fleet used to conceal Iranian oil shipments.

In a statement released yesterday, the U.S. Treasury Department announced that PAKNEJAD is responsible for overseeing the export of tens of billions of dollars’ worth of Iranian oil and has allocated billions more to Iran’s armed forces for export purposes.

The statement further indicated that the Treasury Department also sanctioned the owners and operators of vessels that have either delivered Iranian oil to China or transported it from storage there. These entities are based in multiple jurisdictions, including India and China.