The United States imposed sanctions on Thursday on Iran's Oil Minister Mohsen Paknejad and some Hong Kong-flagged vessels that are part of a shadow fleet that helps disguise Iranian oil shipments, the Treasury Department said.
President Donald Trumpre-imposed "maximum pressure" policy on Iran in February that includes efforts to drive its oil exports to zero in order to stop Tehran from obtaining a nuclear weapon and funding militant groups.
Paknejad "oversees the export of tens of billions of dollars’ worth of Iranian oil and has allocated billions of dollars’ worth of oil to Iran’s armed forces for export," Treasury said in a statement.
“The Iranian regime continues to use the proceeds from the nation’s vast oil resources to advance its narrow, alarming self-interests at the expense of the Iranian people,” Treasury Secretary Scott Bessent said in a statement.
“Treasury will fight and disrupt any attempts by the regime to fund its destabilizing activities and further its dangerous agenda.”
Iran says its nuclear program is for peaceful purposes.
Treasury also designated owners or operators of vessels that have delivered Iranian oil to China or lifted it from storage there, it said. Those were in multiple jurisdictions, including India and China, it said.
Iran's military relies on a vast shadow fleet of ships to disguise shipments of oil worth billions of dollars to China.
Thursday's designated vessels include the Hong Kong-flagged Peace Hill and its owner Hong Kong Heshun Transportation Trading Limited, the Iran-flagged Polaris 1, the Seychelles-registered Fallon Shipping Company Ltd, and the Liberia-registered Itaugua Services Inc, Treasury said.
It also designated the Panama-flagged Corona Fun, which it said has manipulated automatic identification systems to disguise efforts to ship Iranian oil, and the San Marino-flagged Seasky, for transporting fuel oil on behalf of Iran's national oil company to China.
The sanctions block U.S. assets of the designated entities and prohibit Americans from engaging in any transactions with them.
The U.S. Department of State is designating three entities and three vessels as blocked property, it said.
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Both the United States and Iran are giving conflicting messages about trying to end the conflict in the Middle East, meanwhile Pakistan has offered to be a mediator and a reported 15 point plan has been sent to Tehran. Welcome to AnewZ's coverage of the tensions in the Middle East.
Israel struck the Iranian capital Tehran on Wednesday, Israeli military and Iranian media said, as President Donald Trump announced that the U.S. is making progress in its efforts to negotiate an end to the war, with reports of a 15-point plan sent to Tehran.
U.S. President Donald Trump said the U.S. was talking to the right people in Iran to make a deal on Tuesday (24 March), as Pakistan's Prime Minister offered to host peace talks between the two countries to bring about an end to the conflict.
Pakistan offered to host talks between Iran and the U.S. to bring about an end to the Middle East conflict on Tuesday (24 March), as U.S. President Donald Trump repeated that Washington was speaking to Tehran, despite the White House downplaying earlier comments by Trump saying the same thing.
The pilot and co-pilot of an Air Canada Express regional jet were killed after it collided with a fire truck while landing at New York's LaGuardia airport late on Sunday, in an incident that closed the airport, authorities and U.S. media said.
U.S. President Donald Trump said the U.S. was talking to the right people in Iran to make a deal on Tuesday (24 March), as Pakistan's Prime Minister offered to host peace talks between the two countries to bring about an end to the conflict.
Violent clashes broke out between police and opposition protesters in Tirana on Sunday (22 March) as demonstrators were demanding the resignation of the Albanian government following corruption allegations against the deputy prime minister.
Afghan authorities say Pakistani jets entered northern Afghanistan, while Pakistan insists its actions target terrorism, highlighting continued strain after a temporary Eid ceasefire ended.
As conflict continues to unsettle the Middle East, airlines are being forced to make difficult, fast-moving decisions - redrawing flight paths and searching for safe skies. Amid this uncertainty, Azerbaijan has emerged as a crucial gateway linking Europe and Asia.
The French government’s bid to suspend the marketplace of Chinese online retailer Shein in the country has been overruled by a Paris Court of Appeal.
The prevailing security situation in the region has done little to deter entrepreneurs from the Commonwealth of Independent States (CIS) who continue to view Dubai as a premier and safe location for business.
China has raised the retail prices of petrol and diesel after global oil prices climbed sharply. The country’s top economic planning body, the National Development and Reform Commission (NDRC), announced the move after reviewing international oil market trends.
Global financial markets remained on edge on Friday as the escalating war involving the United States, Israel and Iran continued to rattle investors, fuelling volatility in stocks and sending energy prices sharply higher.
China’s top leadership has unveiled a new push to turn advanced technologies into large-scale industrial priorities as part of the country’s upcoming 15th Five-Year Plan, which will guide economic and social development from 2026 to 2030.
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