New US sanctions target 50 people, companies and ships for allegedly aiding Iran’s oil and gas trade
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WASHINGTON (AP) — The Trump administration on Thursday imposed sanctions on a group of 50 people, companies and ships largely out of the United Arab Emirates, Hong Kong and China, alleging they were facilitating the shipment of Iranian oil and sales of liquefied petroleum gas.
Included in the penalties are two dozen “shadow fleet” ships flagged across multiple nations, concealing the origin of Iranian oil and circumvents earlier sanctions; a China-based crude oil terminal; and a non-state-owned Chinese refinery. The Treasury Department said they are key to Iran’s ability to export petroleum and petroleum products.
The department said the entities and individuals cited enabled the export of billions of dollars worth of oil and gas products, aiding Iran’s government.
The administration is citing a collection of executive orders signed by Republican President Donald Trump, including one in February that calls for the United States to “drive Iran’s export of oil to zero.”
Among other things, the sanctions deny the people and companies access to any property or financial assets held in the U.S. and prevent U.S. businesses and citizens from doing business with them.
Trump’s “maximum pressure” on Iran is meant to deny Tehran access to nuclear weapons, and during the summer, the U.S. and Israel engaged in several bombardments of Tehran’s nuclear and military sites.
The United Nations reimposed sanctions on Iran in September over its nuclear program, further squeezing the country as Iranians increasingly find themselves priced out of the food and worried about their futures. Iran’s rial currency is at a record low, increasing pressure on food prices and making daily life that much more challenging.
Since January, the administration has imposed sanctions on 166 ships tied to the Iranian oil trade. The new sanctions target a second Chinese oil terminal and a fourth independently owned refinery in China.
Treasury Secretary Scott Bessent said in a statement that the administration is disrupting the Iranian government’s “ability to fund terrorist groups that threaten the United States.”