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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The U.S. military began a blockade of Iran's ports on Monday, President Donald Trump said, and Tehran threatened to retaliate against its Gulf neighbours' ports after talks in Islamabad on ending the war broke down at the weekend.
There are cautious signs of progress towards peace, as negotiating teams from the U.S. and Iran consider returning to Islamabad later this week to resume talks aimed at ending the Gulf conflict.
Iran’s mission at the United Nations headquarters in New York has, in a letter to the Secretary-General and the Security Council President, demanded war compensation from five regional states over damages caused during Israeli-U.S. aggression against Iran.
Since Monday, Monday (13 April), America has blocked traffic entering and leaving Iran's ports, in an escalation of the conflict in the Middle East. The consequences of that will continue to impact the global oil supply.
At a time of deepening global polarisation, rising conflict and shrinking space for dialogue, Pakistan is stepping into a historic role. Diplomatic engagements in Islamabad, bringing together regional powers amid the Iran crisis, signal both urgency and opportunity.
U.S. President Donald Trump warned that any Iranian ships approaching ports in the Strait of Hormuz would be "immediately eliminated" on Monday, as the U.S. started its blockade.
Afghanistan’s Foreign Ministry said on Sunday that talks with Pakistan had been positive, while Türkiye stressed the importance of stronger ties between Kabul and Islamabad.
The U.S. military began a blockade of Iran's ports on Monday, President Donald Trump said, and Tehran threatened to retaliate against its Gulf neighbours' ports after talks in Islamabad on ending the war broke down at the weekend.
Centre-right Peter Magyar's Tisza Party has won a landslide in Hungary after a night of counting in the Hungarian election. Viktor Orbán has conceded defeat after 16 years in power. "We have done it. Tisza and Hungary have won this election", Magyar said to cheering supporters in Budapest.
China’s export growth slowed sharply in March, as the fallout from the Middle East conflict pushed up energy and shipping costs, weakening global demand and exposing risks in Beijing’s reliance on manufacturing to drive growth.
A French fashion label is placing China at the heart of its global ambitions, choosing Shanghai for its worldwide debut in a move that shows growing confidence in the country’s consumer market and cultural influence.
Walt Disney is planning to cut up to 1,000 jobs in the coming weeks, with many of the reductions expected to affect its marketing division, The Wall Street Journal reported on Wednesday, citing sources familiar with the plans.
Major automakers showcased new electric vehicles at the New York Auto Show this week, under the slogan “electrification is the future." However, weakening demand in the United States and intense competition with China are raising questions for markets across the globe, including the South Caucasus.
The U.S. national average retail price of petrol rose above $4 a gallon for the first time in over three years on Monday (30 March), according to GasBuddy data, as the U.S.–Israeli war with Iran continued to roil global energy markets.
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