Washington issues further sanctions aimed at Iran’s trade

The United States has escalated its “maximum pressure” campaign against Iran by imposing new sanctions targeting Iranian oil sales to China. Announced on Tuesday, these sanctions focus on nearly two dozen companies accused of facilitating Iran’s international oil trade, particularly through front companies based in China and Hong Kong. This move highlights the ongoing tensions between Washington and Tehran amid heightened nuclear negotiations.

Details of the Sanctions

The U.S. Treasury Department has specifically targeted a Very Large Crude Carrier (VLCC) named Balu and an LR1 product tanker called Roc. Officials allege that these vessels were utilized by Elyas Niroomand Toomaj, an official from Sepehr Energy who has previously faced sanctions for his role in facilitating Iranian oil shipments to China. This latest round of sanctions aims to further disrupt Iran’s oil revenue, which U.S. officials claim funds the regime’s destabilizing activities.

Tankers: Business as Usual? | Hellenic Shipping News Worldwide

Secretary of the Treasury Scott Bessent emphasized the importance of these actions, stating, “Today’s action underscores our continued focus on intensifying pressure on every aspect of Iran’s oil trade, which the regime uses to fund its dangerous and destabilizing activities.” He reiterated that the U.S. will persist in targeting this vital revenue stream as long as Iran continues its support for terrorism and the proliferation of dangerous weapons.

This announcement comes in the wake of similar sanctions imposed in recent weeks, reflecting a broader strategy by the U.S. to apply pressure on Iran amidst ongoing nuclear discussions. The sanctions are part of a concerted effort to hold Iran accountable for its actions and to seek compliance with international norms regarding nuclear proliferation.