The United States imposed sanctions on more than 30 people and vessels for their role in selling and transporting Iranian petroleum-related products as part of Tehran's "shadow fleet," the Treasury Department said.
The sanctions target oil brokers in the United Arab Emirates (UAE) and Hong Kong, tanker operators and managers in India and China, the head of Iran's National Iranian Oil Company, and the Iranian Oil Terminals Company, Treasury said.
The sanctioned vessels ship tens of millions of barrels of crude oil valued in the hundreds of millions of dollars, the department said in a statement.
"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.
The sanctions build on those imposed by the Biden administration.
Such sanctions target key sectors of Iran's economy with the aim of denying the government funds for its nuclear and missile programs. The move generally prohibits any U.S. individuals or entities from doing any business with the targets and freezes any U.S.-held assets.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for 31 May, covering the latest developments you need to know....
Donald Trump said he is “in no hurry” to reach a deal with Iran, insisting the U.S. is slowly getting what it wants. He warned military action rem...
Donald Trump said he is “in no hurry” to reach a deal with Iran, insisting the U.S. is slowly getting what it wants. He warned military action remains an option if talks fail. Meanwhile, U.S. forces said they fired a missile at a vessel trying to breach Washington’s blockade of Iran.
Iranian-made Yassin missiles were spotted mounted on Armenian Air Force fighter aircraft during Armenia's latest military parade on Thursday (28 May), drawing attention from defence observers and regional analysts.
There is a number that has haunted American fiscal policy for the better part of two decades, and this week it returned.
At least 22 people have been killed - including children - and 35 others injured after a truck carrying Afghan returnees overturned in eastern Afghanistan, local officials say.
A group of Azerbaijani civil society organisations has called for increased scrutiny of Swiss building materials giant Holcim, citing court rulings and ongoing investigations linked to its subsidiary Lafarge's activities during the Syrian conflict.
Iranian-made Yassin missiles were spotted mounted on Armenian Air Force fighter aircraft during Armenia's latest military parade on Thursday (28 May), drawing attention from defence observers and regional analysts.
Thai rescuers say five people have been pulled alive from a flooded cave in remote Laos, where seven villagers became trapped after heavy rain cut off access underground.
The Philippines remains under a "severe threat" from China despite recent efforts by Washington and Beijing to ease tensions, Philippine Defence Secretary Gilberto Teodoro said on Saturday (30 May).
Russia has recalled its ambassador to Armenia for consultations, citing Yerevan's growing rapprochement with the European Union. The move is seen as the latest sign of deteriorating relations between the longtime allies ahead of Armenia's parliamentary election on 7 June.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
BP has removed its chair, Albert Manifold, with immediate effect, citing concerns over governance and conduct. The company said its board had unanimously decided that Manifold should no longer serve as chair or director.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
Kevin Warsh will be sworn in as chair of the U.S. Federal Reserve on Friday as policymakers consider higher interest rates to tackle inflation linked to the Trump administration’s Iran policy.
A government-mediated agreement has suspended an 18-day walkout by about 48,000 Samsung union members, easing fears of damage to South Korea's economy and global chip supply.
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