US imposes fresh sanctions on Iran’s shadow oil fleet

The United States on Monday imposed a fresh round of sanctions targeting Iran’s oil industry, hitting more than 30 brokers, tanker operators, and shipping companies for their role in selling and transporting Iranian petroleum.

This comes as US President Donald Trump seeks to bring Iran’s crude exports to zero to prevent the country from obtaining a nuclear weapon, and builds on the layers of sanctions already imposed by his government and the previous Biden administration.

The Treasury Secretary Scott Bessent in a statement said Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales and fund its destabilizing activities.

“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 said.

According to the head of Iran’s National Iranian Oil Company, and the Iranian Oil Terminals Company, Treasury, the new sanctions are said to target oil brokers in the United Arab Emirates and Hong Kong, tanker operators and managers in India and China.

The Treasury said that the Iranian Oil Terminals Company oversees all operations at Iran’s oil terminals, including Kharg Island Oil Terminal, through which a majority of Iranian oil flows, and South Pars Condensate Terminal, which accounts for 100% of Iran’s gas condensate exports.

Recall that Trump earlier this month had restored his maximum pressure campaign on Iran that includes efforts to drive the country’s oil exports to zero, reimposing Washington’s tough policy on Iran that was practiced throughout Trump’s first term.

DAILY POST reports that oil is a top source of revenue for Iran, and targeting the country’s exports is meant to deny the government funds for its nuclear and missile programs.

The move generally prohibits any US individuals or entities from doing any business with the targets and freezes any US-held assets.

Trump had accused his predecessor, President Joe Biden, of failing to rigorously enforce oil-export sanctions.