The United States (US) has announced fresh sanctions targeting Iran’s oil industry, intensifying economic pressure as tensions in the Middle East continue to rise, the Treasury Department said on Wednesday.
Read More: US hits Iran with new oil and shipping sanctions
According to the announcement, the new measures target more than two dozen individuals, companies, and vessels linked to a major oil shipping network operated by Mohammad Hossein Shamkhani. The network is accused of facilitating the transport and sale of Iranian oil through complex international channels.
US Treasury Secretary Scott Bessent said the action is part of a broader pressure campaign aimed at restricting revenue flows to Iran’s leadership. He stated that the sanctions were designed to disrupt what Washington describes as elite financial networks benefiting from oil trade while ordinary Iranian citizens face economic hardship.
The State Department separately said the move was intended to limit Iran’s ability to generate revenue while accusing Tehran of escalating tensions in the region. US officials also linked the decision to ongoing disruptions in global energy routes, including tensions surrounding the Strait of Hormuz, a key passage for global oil and gas shipments.
The sanctions reportedly target companies operating in Iran and the United Arab Emirates, which US authorities allege have been used to disguise oil shipments through consulting and shipping intermediaries. Washington claims these entities are part of a wider effort to bypass existing restrictions on Iranian oil exports.
In addition to the oil-related measures, the US also imposed sanctions on an Iranian national accused of financing Hezbollah, as well as several companies allegedly involved in money laundering schemes tied to oil sales and gold transactions involving Venezuela.
The announcement comes amid heightened geopolitical tensions and increasing volatility in global energy markets. Earlier steps by Washington included tightening restrictions on Iranian oil exports already at sea, further increasing pressure on Tehran’s economy.
Read More: US targets Iran’s oil trade and Hezbollah in new round of sanctions
US officials said they will continue to expand sanctions enforcement as part of efforts to curb Iran’s regional influence and financial capabilities.