The United States has announced new sanctions targeting Iran’s military oil trade, despite reaching a preliminary agreement with Tehran to extend a ceasefire. This move highlights ongoing tensions surrounding Iran’s oil exports and military funding.
According to the U.S. Treasury Department, sanctions have been imposed on eight vessels involved in transporting Iranian crude oil and petroleum products to global markets. Among these vessels are the Flora, registered under the Marshall Islands, the Hauncayo, flagged in the Comoros, and the Ill Gap, flying the Panamanian flag.
Scott Bessent, the U.S. Treasury Secretary, stated, “We will not allow the Iranian government to increase oil revenues to rebuild its military capabilities.” This statement underscores the U.S. government’s commitment to curtailing Iran’s access to financial resources that could enhance its military strength.
In addition to the vessels, sanctions have also been placed on over 15 companies, including Worth Seen Energy Limited and Mehdiyev Trading based in Hong Kong, as well as Symphony Shipping and Maritime Management located in Dubai. These companies are implicated in facilitating Iran’s oil trade.
The U.S. Treasury noted that some of the Iranian entities under sanctions utilize oil sales infrastructure controlled by Iran’s armed forces to procure petroleum products from outside the country. Specifically, Worth Seen is reported to purchase refined petroleum products on behalf of Sepehr Energy Japan, a subsidiary of Iran’s General Staff of Armed Forces, which has previously been sanctioned by the U.S.
The U.S. has enacted new sanctions against Iranian oil trade, targeting vessels and companies involved in the export of oil. This action comes despite a recent ceasefire agreement with Tehran, reflecting ongoing concerns about Iran's military funding through oil revenues.