The United States on Thursday imposed a fresh set of sanctions targeting individuals and entities accused of assisting Iran in exporting oil and liquefied petroleum gas (LPG). The measures affect over 50 individuals, companies, and ships allegedly involved in exporting billions of dollars’ worth of Iranian petroleum products and LPG.
According to the Treasury Department, the sanctions focus on nearly two dozen ‘shadow fleet’ vessels, a Chinese crude oil terminal, a ‘teapot’ refinery, and businesses located in Hong Kong, Panama, and the United Arab Emirates.
“The Treasury Department is degrading Iran’s cash flow by dismantling key elements of Iran’s energy export machine,” said Treasury Secretary Scott Bessent on Thursday. The move is intended to undermine Tehran’s financial support for organizations that pose a threat to the United States and its allies, he added.
These sanctions are part of the Trump administration’s ongoing ‘maximum pressure’ campaign aimed at compelling Chinese entities to halt their energy purchases from Iran in response to Tehran’s nuclear activities.
The administration has sanctioned several Chinese ‘teapot refineries,’ which operate independently and are among the primary importers of Iranian crude. Additionally, it has targeted Chinese shipping firms and organizations in Hong Kong that are accused of facilitating the energy trade.
Iran relies heavily on oil exports for income, but its economy is already under intense strain due to strict U.S. sanctions that have isolated it from international financial systems and severely weakened its financial stability.
The newly declared sanctions come just weeks ahead of a planned meeting between President Trump and Chinese President Xi Jinping in South Korea, marking their first direct engagement since Trump began his second term in office.
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