United States Enacts New Sanctions on Iranian Military Oil Trade

U.S. Imposes New Sanctions on Iranian Military Oil Trade

On Thursday, the United States announced a new set of sanctions aimed at the oil trade controlled by the Iranian military. This decision arrives despite a preliminary agreement with Tehran to extend a ceasefire and ease navigation restrictions in the vital Strait of Hormuz.

Details of the U.S. Sanctions

The U.S. Treasury Department confirmed that these sanctions target eight vessels engaged in the transport of Iranian crude oil and its derivatives to global markets. Among the identified vessels are the oil tanker Flora, flagged in the Marshall Islands, the Haunkayo, registered in Comoros, and the El Jab, which flies the Panamanian flag, as reported by Reuters.

Treasury Secretary’s Statement

Treasury Secretary Scott Pisenet underscored that Washington “will not allow the Iranian government to increase its oil revenues to rebuild its armed forces and military capabilities.” It is noteworthy that President Donald Trump has yet to publicly endorse the preliminary agreement with Tehran.

Impact of War on Energy Markets

The ongoing conflict, which escalated on February 28 following U.S. and Israeli strikes on Iran, has significantly disrupted global energy markets. The closure of the crucial Strait of Hormuz, through which 20% of the world’s oil and gas supplies are transported, has adversely affected energy prices and availability.

Additional Sanctions on International Entities

In addition to the sanctions on vessels, the United States has also imposed restrictions on over 15 entities, including companies based in Hong Kong and Dubai. Washington accuses these entities of facilitating Iranian oil sales, thereby reinforcing the financial backbone of the Iranian military.

The U.S. Treasury Department highlighted that some of these entities leverage external networks to procure oil products for Sepahr Energy Jahan, the commercial arm of the Iranian military’s General Staff, which is already under U.S. sanctions.

For more information, visit the original article on Yemen TV.