Although 2021 has predominantly been referred to as the “year of Russia” in terms of sanctions, the collapse of nuclear talks (JCPOA) as well as the social repression in the country have also shifted the focus to Iran, to some degree.

While designating members of the Islamic Revolutionary Guards Forces (IRGF) as Specially Designated Nationals (SDNs), the United States has also blacklisted numerous key companies that assist its unmanned aerial vehicle (UAV) sector. The U.S. continue to pile on the pressure on Iran, as a bipartisan bill emerged in Congress, targeting the country’s primary source of income.

The Stop Harboring Iranian Petroleum (SHIP) Act, introduced by U.S. Senators Marco Rubio (R-FL), Maggie Hassan (D-NH), and Jacky Rosen (D-NV), aims to impose sanctions on illicit purchases of Iranian oil and ensure that those supporting the regime are held responsible.

Our lawyers explore the implications of the SHIP Act on Iran’s oil trade and China’s role in the Middle East further in their publication.