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US Sanctions More Entities, Individuals Over Iran Oil Sales

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The US sanctioned more than 50 companies, individuals, and vessels tied to what it called Iran's "shadow banking" and shipping networks, as the Trump administration steps up its economic pressure against Tehran, the Treasury Department said on Tuesday.

The US Treasury said the measures targeted Iranian foreign exchange networks that facilitate billions of dollars in transactions for sanctioned banks and entities linked to Iran's petroleum and petrochemical trade.

The Treasury's Office of Foreign Assets Control blacklisted 19 vessels accused of transporting Iranian oil, liquefied petroleum gas, methanol, and other petrochemical products to foreign buyers.

OFAC said the sanctioned vessels include the Barbados-flagged LPG tanker GREAT SAIL, the Panama-flagged crude tanker MIDAS, and the Vanuatu-flagged tanker FEADSHIP, which Treasury said had transported millions of barrels of Iranian oil or petrochemical products since 2025.

The Department also sanctioned shipping companies registered in jurisdictions including Hong Kong, the Marshall Islands, Liberia, and Panama, accusing them of operating in Iran's petroleum or petrochemical sectors.

The US said Iran continued to rely on non-Iranian-flagged vessels and complex financial networks to evade sanctions and sustain oil exports.

The Treasury sanctioned Amin Exchange, accusing it of helping blacklisted Iranian banks and exporters move hundreds of millions of dollars through front companies in jurisdictions including the UAE, Turkey, and Hong Kong.

Secretary of the Treasury Scott Bessent said that as the US dismantles Tehran's shadow banking system and shadow fleet, financial institutions must be alert to the regime's manipulation of the international financial system.

The exchange house worked with entities including the National Iranian Oil Company, Persian Gulf Petrochemical Industry Commercial Company, and Triliance Petrochemical, the OFAC said in a statement.

The US also hit with sanctions eight alleged front companies based in China, Hong Kong, and the UAE that it said helped facilitate payments tied to Iran's petroleum and petrochemical sectors.

Meanwhile, Treasury Secretary Bessent called on US allies to tighten sanctions enforcement against Iran and dismantle its shadow-banking and front-company networks.

Speaking at the "No Money for Terror" conference, Bessent said that sanctions and enforcement actions had disrupted tens of billions of dollars in projected Iranian oil revenues.

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