The U.S. Department of Treasury has announced sanctions on a network of individuals and entities allegedly involved in facilitating the shipment of millions of barrels of Iranian oil to China. The sanctions, imposed by the Office of Foreign Assets Control, target more than a dozen people and companies based in China, India, and the United Arab Emirates.
The sanctioned entities include Iranian and Indian citizens, crew management firms, and a group of ships. Treasury Secretary Scott Bessent stated that the Iranian regime continues to use oil revenues to fund its nuclear program, develop ballistic missiles, and support regional terrorist groups.
During his confirmation hearing, Bessent criticized the Biden administration's sanctions policies and advocated for a more robust sanctions regime, particularly targeting Iran and Russian entities involved in oil trade.
A State Department spokeswoman emphasized the U.S.' commitment to holding Iran accountable for its destabilizing activities and nuclear ambitions. President Donald Trump, while signing an executive order to increase pressure on Tehran, expressed a willingness to negotiate a deal with Iran but reiterated the U.S.' stance against Iran possessing nuclear weapons.
Trump also warned of severe consequences if Iran were to harm him, instructing his advisers to respond decisively in such a scenario. Iranian officials have indicated their readiness to engage in negotiations with the U.S. regarding their nuclear program, awaiting a clear message from the Trump administration.
