The US Department of the Treasury has announced a new round of sanctions targeting Iran’s shadow oil network, naming companies and individuals across several countries, including an India-based shipping operator.

"Today, the Department of Treasury is designating 17 entities, individuals, and vessels to stem the flow of revenue that the Iranian regime uses to advance its nuclear program, and to target shipping facilitators in multiple jurisdictions who, through obfuscation and deception, load and transport Iranian oil for sale to buyers," the US Department of State said in a statement.

The department said the entities were being sanctioned because they were helping Iran generate funds for its nuclear programme.

According to the Treasury, these sales have become a key revenue source for I

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