US Imposes Sweeping Sanctions on Iran, Targets Military Procurement Networks and Petroleum Traders
The United States has imposed fresh sanctions on Iran, targeting its military procurement networks, petroleum and petrochemical traders, and shadow fleet operators. The measures are part of a broader campaign aimed at cutting Iran off from international financial and commercial networks.
The US Department of State and Treasury announced the sanctions under 'Operation Economic Outcast', which targets nearly 60 individuals, entities, and vessels. The sanctions cover Iranian military activities, procurement, cyber operations, and petroleum and petrochemical revenue generation.
US Treasury Secretary Scott Bessent described the campaign as an 'economic onslaught' against Iran, with the objective of severing the financial lifelines sustaining the Iranian regime. He warned that entities facilitating transactions involving Iranian oil could be targeted, and US President Donald Trump is contacting world leaders to demand they cease economic interactions with Tehran.
The sanctions also target companies and intermediaries in third countries involved in purchasing, transporting, and marketing Iranian petroleum and petrochemical products. Among those sanctioned are India-based companies accused of importing Iranian petroleum products, Turkish companies involved in petrochemical trade, a Hong Kong-based company accused of operating a tanker carrying Iranian crude, and an India-based customs broker.
The US said the sanctions would block the property and interests in property of designated persons located in the United States or controlled by US persons. The measures effectively prohibit US persons and transactions within or transiting the United States from dealing with the sanctioned individuals and entities unless authorized by the US Treasury's Office of Foreign Assets Control.
Iranian Foreign Minister Abbas Araqchi rejected the sanctions, describing Washington's renewed economic pressure as a sign of desperation. He maintained that Iran had already endured blockades and military pressure and would withstand the latest measures.