The United States has imposed new sanctions on Iran’s oil trade, targeting more than 30 individuals, oil companies, and tankers operating in China, the UAE, India, and other regions. This move aligns with former President Donald Trump’s National Security Presidential Memorandum 2, which aims to reduce Iran’s oil exports to zero.
New Sanctions Target Iran’s Oil Supply Chain
The US Treasury and State Departments announced fresh restrictions on key Iranian oil entities, including:
- Iran’s National Iranian Oil Co.
- Iranian Oil Terminals Co.
- Multiple oil tankers moving crude worth millions of dollars
Treasury Secretary Scott Bessent emphasized that the US will use “all available tools” to disrupt Iran’s oil supply chain, warning that entities dealing with Iranian oil face “significant sanctions risk.”
Trump’s Push for Tougher Measures
Trump previously stated that Iran “can never be allowed to develop nuclear weapons” and warned of harsh consequences if the country threatens US interests. He has also instructed advisers to take severe action if Iran attempts any attacks against him.
During his confirmation hearing, Bessent criticized the Biden administration’s sanctions approach and called for a more aggressive stance on Iran and Russia.
Iran’s Oil Revenues and US Strategy
According to an October 2024 US Energy Information Administration report, Iran earned $253 billion in oil revenues between 2018 and 2024 under both Biden and Trump administrations.
State Department spokeswoman Tammy Bruce reaffirmed the US position, stating, “As long as Iran uses its energy revenues for terrorism and destabilizing activities, we will hold the regime accountable.”
The latest sanctions signal a renewed effort by the US to cripple Iran’s oil-dependent economy while preventing it from funding militant groups in the Middle East.
