US Sanctions Campaign Targets Iran's Broader Support Network
The US Treasury has expanded its sanctions against Iran's oil and financial networks, targeting over 60 entities and vessels in an effort to disrupt Tehran's revenue streams.
The move is part of a broader campaign by Washington to squeeze Iran's economy while avoiding a wider confrontation with Beijing. In a deliberate attempt to avoid escalating tensions with China, the US has spared major Chinese banks from penalties.
According to the Treasury, the latest package aims at a wide range of activity linked to Iran's nuclear and missile procurement, cyber operations, and the shipment and sale of Iranian crude. The sanctions can extend beyond oil sales in the narrow sense to the broader support network that enables those sales, including foreign firms working with digital assets, technology, gold, aviation, and shipping.
Treasury Secretary Scott Bessent explained that 'quiet diplomacy' was the approach chosen, but hinted at the possibility of targeting one large international financial institution in the future. The decision to spare major Chinese banks reflects Washington's balancing act between pressuring Iran's revenue and avoiding a direct showdown with China.