The United States has announced a fresh tightening of sanctions on Iran’s oil sector, accusing Tehran of escalating tensions in the Middle East through continued disruptions in the Strait of Hormuz amid the ongoing regional conflict.
The sanctions target more than two dozen individuals, companies, and vessels linked to Iran’s oil shipping network.
In a statement, the U.S. Department of the Treasury said its Office of Foreign Assets Control (OFAC) had intensified pressure on what it described as Iran’s “illicit oil transportation infrastructure,” focusing on a network tied to oil shipping magnate Mohammad Hossein Shamkhani, son of the late senior Iranian security official Ali Shamkhani.
“Treasury is moving aggressively with Economic Fury by targeting regime elites like the Shamkhani family that attempt to profit at the expense of the Iranian people,” U.S. Treasury Secretary Scott Bessent said. He added that under President Donald Trump’s leadership, the department would continue efforts to disrupt Iran’s oil smuggling and proxy networks, warning that financial institutions engaging with Tehran risk secondary sanctions.
The move follows a temporary 30-day waiver previously issued by Washington, which allowed limited Iranian oil shipments at sea to reach global markets. According to Reuters, the waiver—introduced on March 20 and set to expire on April 19—was not renewed.
Bessent also warned that countries purchasing Iranian oil could face sanctions, adding that the U.S. expects reduced demand from buyers such as China as enforcement actions increase.
He said Washington had informed countries that continued purchases of Iranian oil or holding Iranian funds in their banking systems could trigger secondary sanctions.
The U.S. State Department also said the measures are aimed at limiting Iran’s ability to generate revenue, accusing Tehran of attempting to “hold the Strait of Hormuz hostage.”
