❗️US hits Iran with new sanctions on oil export network

The US has imposed new sanctions on more than 90 individuals, entities, and vessels accused of facilitating Iran’s petroleum and petrochemical exports, in a bid to cut off Tehran’s oil revenues.

The measures target networks spanning the UAE, India, China, Hong Kong, and Singapore, as well as “shadow fleet” vessels and key infrastructure.

Treasury Secretary Scott Bessent said the move aims to “degrade Iran’s cash flow” and disrupt funding for groups threatening the US and its allies. The State Department also sanctioned around 40 additional actors tied to Iran’s energy trade, including major petrochemical buyers.