The Trump administration announced a new round of sanctions Wednesday targeting Iranian individuals, companies and vessels accused of facilitating the country’s illicit oil sales and advancing its ballistic missile program — a move that comes just ahead of another round of nuclear talks with Tehran.
The Treasury Department said the measures focus in part on vessels operating in Iran’s so-called “shadow fleet,” which officials say has transported “hundreds of millions of dollars’ worth” of petroleum and petrochemical products to foreign buyers in violation of U.S. sanctions.
“Instead of allocating this revenue for the benefit of the Iranian people, the regime ultimately siphons it off to fund regional terrorist proxies, weapons programs, and repressive security services, rather than the basic economic needs the Iranian people have repeatedly and courageously demanded,” the department said in a statement.
In addition to targeting ships involved in oil shipments, the Treasury Department’s Office of Foreign Assets Control imposed sanctions on nine individuals and entities based in Iran, Turkey and the United Arab Emirates. U.S. officials allege the network has helped the Islamic Revolutionary Guard Corps and Iran’s Defense Ministry procure precursor chemicals and sensitive machinery used in weapons development.
Treasury Secretary Scott Bessent said the administration will continue applying economic pressure on Tehran.
“Under President Trump’s strong leadership, Treasury will continue to put maximum pressure on Iran to target the regime’s weapons capabilities and support for terrorism, which it has prioritized over the lives of the Iranian people,” Bessent said.
The sanctions were announced as U.S. officials, including special envoy Steve Witkoff, prepare to participate in another round of Oman-mediated talks with Iranian representatives Thursday in Geneva. The meetings are expected to focus on Iran’s nuclear program amid heightened tensions between Washington and Tehran.
