The Department of the Treasury’s Office of Foreign Assets Control (OFAC) wrote that sanctioned entities include oil brokers in the UAE and Hong Kong, as well as tanker operators and managers in China and India.
The United States imposed sanctions on more than 30 individuals and oil tankers across China, India, the United Arab Emirates (UAE), and other jurisdictions for facilitating Iranian oil sales that help finance militant groups targeting the US and its allies.
The Treasury and State Departments announced the sanctions on Monday targeting key figures in Iran’s oil sector, including the heads of the National Iranian Oil Company and the Iranian Oil Terminals Company as well as oil brokers and taker operators, reports the Associated Press.
These entities play a crucial role in brokering the sale and transportation of Iranian petroleum. According to the Treasury, the sanctioned vessels have transported crude oil worth hundreds of millions of dollars.
This is the second round of sanctions against Iranian oil sales since President Donald Trump issued National Security Presidential Memorandum 2 earlier this year. The directive, signed in February, calls for reducing Iran’s oil exports to zero, stating that Iran “can never be allowed to acquire or develop nuclear weapons.”
At the time, Trump said, “Hopefully we’re not going to have to use it very much,” but emphasized that a deal with Iran remains uncertain.
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) wrote that sanctioned entities include oil brokers in the UAE and Hong Kong, as well as tanker operators and managers in China and India. These individuals and organizations play a role in moving Iranian petroleum-related products through illicit networks.
“Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales and fund its destabilizing activities,” said Treasury Secretary Scott Bessent in a statement. “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.”
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) wrote that sanctioned entities include oil brokers in the UAE and Hong Kong, as well as tanker operators and managers in China and India.
The United States imposed sanctions on more than 30 individuals and oil tankers across China, India, the United Arab Emirates (UAE), and other jurisdictions for facilitating Iranian oil sales that help finance militant groups targeting the US and its allies.
The Treasury and State Departments announced the sanctions on Monday targeting key figures in Iran’s oil sector, including the heads of the National Iranian Oil Company and the Iranian Oil Terminals Company as well as oil brokers and taker operators, reports the Associated Press.
These entities play a crucial role in brokering the sale and transportation of Iranian petroleum. According to the Treasury, the sanctioned vessels have transported crude oil worth hundreds of millions of dollars.
This is the second round of sanctions against Iranian oil sales since President Donald Trump issued National Security Presidential Memorandum 2 earlier this year. The directive, signed in February, calls for reducing Iran’s oil exports to zero, stating that Iran “can never be allowed to acquire or develop nuclear weapons.”
At the time, Trump said, “Hopefully we’re not going to have to use it very much,” but emphasized that a deal with Iran remains uncertain.
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) wrote that sanctioned entities include oil brokers in the UAE and Hong Kong, as well as tanker operators and managers in China and India. These individuals and organizations play a role in moving Iranian petroleum-related products through illicit networks.
“Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales and fund its destabilizing activities,” said Treasury Secretary Scott Bessent in a statement. “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.”
