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Sri Lanka indirectly linked to Iran's 'shadow fleet' oil and LPG network hit by new US sanctions
Daily FT
|October 10, 2025
THE US Department of the Treasury yesterday said it has imposed sanctions on a global network of companies, ships, and individuals facilitating Iranian petroleum and liquefied petroleum gas (LPG) exports, including shipments that reached Sri Lanka.
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This is part of a broader crackdown on what Washington describes as Iran's "shadow fleet."
In a statement issued from Washington, the Treasury's Office of Foreign Assets Control (OFAC) said it has sanctioned over 50 entities, individuals, and vessels connected to Iran's energy export operations, targeting billions of dollars in trade that has generated critical revenue for Tehran's regime.
According to the Treasury, two United Arab Emirates (UAE)-based firms, Markan White Trading Crude Oil Abroad Co. LLC and SLOGAL Energy DMCC, played key roles in enabling sales and shipments of Iranian LPG to Sri Lanka.
This story is from the October 10, 2025 edition of Daily FT.
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