The United States has implemented a new wave of sanctions on Iran’s oil industry, targeting over 30 brokers, tanker operators, and shipping companies involved in the sale and transportation of Iranian petroleum, the Treasury Department announced on Monday, according to Reuters.
"Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales and fund its destabilizing activities," Treasury Secretary Scott Bessent stated.
"The United States will use all our available tools to target all aspects of Iran’s oil supply chain, and anyone who deals in Iranian oil exposes themselves to significant sanctions risk," he added.
According to the Treasury Department, the newly imposed sanctions affect oil brokers in the United Arab Emirates and Hong Kong, as well as tanker operators and managers in India and China.
The restrictions also extend to the head of Iran’s National Iranian Oil Company and the Iranian Oil Terminals Company, which manages Iran’s oil terminal operations.
This latest move aligns with US President Donald Trump's efforts to reduce Iran’s crude exports to zero, aiming to prevent the country from acquiring a nuclear weapon. The sanctions build upon previous restrictions imposed by both his administration and that of former President Joe Biden.
Earlier this month, Trump reinstated his "maximum pressure" campaign against Iran, imposing new sanctions on the Islamic Republic. The policy mirrors the aggressive sanctions strategy his administration enforced during his first term in office.
Iran has expanded its nuclear activities since 2019, following the decision by Trump, in his first term in office, to withdraw from the 2015 nuclear deal signed between Iran and world powers.
In addition to expanding sanctions on Iran, Trump has also said in recent days that he would rather reach a deal with Iran on its nuclear program than have Israel attack Iran’s nuclear facilities.
Despite the President’s comments, Iranian Supreme Leader Ayatollah Ali Khamenei has cautioned the Iranian government against engaging in talks with Washington, describing such a move as “reckless.”
Iran’s Foreign Minister Abbas Araqchi made clear that Iran is open to negotiations with the United States but not under Trump’s “maximum pressure” strategy.
“The lifting of sanctions requires negotiations, but not within the framework of a ‘maximum pressure’ policy, because it would not be a negotiation but a form of surrender,” said Araqchi.