US Tightens Sanctions on Iran’s Oil Sector

The United States has imposed fresh sanctions on Iran, targeting its crude oil sector and associated networks. The move comes amid rising tensions over the Strait of Hormuz, with the US aiming to increase economic pressure on Iran. The US Treasury Department announced sanctions on key individuals, companies, and shipping vessels linked to Iran’s oil industry, including those associated with businessman Mohammad Hossein Shamkhani.

Officials stated that these networks were profiting while ordinary citizens faced economic hardship. The US also highlighted that entities connected to Shamkhani operate in Iran and the UAE, allegedly using consultancy and shipping channels to bypass sanctions. Additionally, sanctions were imposed on individuals accused of financially supporting militant groups and engaging in money laundering through oil revenues, signalling a broader crackdown on Iran’s economic activities.