New US sanctions on Iranian oil trade hit over 30 entities

The US imposed a fresh round of sanctions targeting Iran's oil industry on Feb 24, hitting more than 30 brokers, tanker operators and shipping companies for their role in selling and transporting Iranian petroleum, the Treasury Department said.

- REUTERS

WASHINGTON - The US imposed a fresh round of sanctions targeting Iran's oil industry on Feb 24, hitting more than 30 brokers, tanker operators and shipping companies for their role in selling and transporting Iranian petroleum, the Treasury Department said.

The announcement comes as US President Donald Trump seeks to bring Iran's crude exports to zero to prevent the country from obtaining a nuclear weapon, and builds on the layers of sanctions already imposed by his government and the previous Biden administration.

"Iran continues to rely on a shadowy network of vessels, shippers and brokers to facilitate its oil sales and fund its destabilising activities," Treasury Secretary Scott Bessent said in a statement.

"The United States will use all our available tools to target all aspects of Iran's oil supply chain, and anyone who deals in Iranian oil exposes themselves to significant sanctions risk," he added.