New US sanctions target Iran’s oil supply chain amid Trump’s ‘maximum pressure’ push
Subscribe to enjoy similar stories. The U.S. is ratcheting up sanctions targeting Iran’s oil supply chain, continuing the Trump administration’s “maximum pressure" campaign to effectively blockade the country’s petroleum exports, the Treasury Department said.
More than 30 entities, individuals and vessels connected with Iran’s so-called shadow fleet have been hit with new U.S. sanctions, Treasury said Monday. The sanctioned entities include oil brokers in the United Arab Emirates and Hong Kong, tanker operators and managers in China, and the head of Iran’s state-owned oil company.
“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," Treasury Secretary Scott Bessent said. A representative for Iran’s mission to the United Nations in New York didn’t respond to a request for comment Monday. Earlier this month, President Trump issued a national security memo reviving a campaign of what he called maximum pressure on Iran.
In his first administration, Trump targeted Iran with an identically named push, but former officials say his views on the country have likely hardened following an alleged plot by Iranian agents to assassinate him. The latest iteration of the policy is aimed at reducing Iran’s oil exports to zero, according to the memo. In the directive, Trump also explicitly referred to Iran’s exports to China, saying those should also come to a complete halt.
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