Stepwise Risk Outlook Deep Dive: Increased Secondary Sanctions Risks Against Iranian Oil Exporting And Financial Networks

Today's Deep Dive is 1,245 words and an 8-minute read.

On October 11, the US imposed additional sanctions on Iran and its networks exporting oil via its "ghost fleet." The US took the action under E.O. 13902 and E.O. 13846, seeking to disrupt the flow of revenue Tehran uses to fund its nuclear program and missile development, support terrorist proxies and partners and perpetuate conflict throughout the Middle East. While some commentators are tying the measure to a US attempt to shape the Israeli response to the Iranian missile attack on October 1, the enforcement action is actually part of a much larger program to limit Iranian capabilities to project power in the region and with Russia in its war against Ukraine. US actions can be expected to accelerate beyond the current crisis and expand in the form of secondary sanctions against non-Iranian owned ships, shipping services companies and financial services companies, as well as individuals who own and/or are