US imposes new illegal sanctions on Iran's oil exports

The United States imposed a fresh round of sanctions targeting Iran's oil industry on Monday, sanctioning more than 30 brokers, tanker operators, and shipping companies in different countries.

News ID: ۲۰۰۰۸۹۶

24 February 2025

EghtesadOnline: In yet another futile move, the United States imposed a fresh round of sanctions targeting Iran's oil industry on Monday, hitting more than 30 brokers, tanker operators, and shipping companies for their role in selling and transporting Iranian petroleum, the Treasury Department said.

The announcement comes as US President Donald Trump seeks to bring Iran's crude exports to zero and builds on the layers of sanctions already imposed by his government and the previous Biden administration, Reuters reported.

"Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales ...," claimed Treasury Secretary Scott Bessent in a statement.

The Trump administration reimposed sanctions on Iran after assuming office in January. This is while, his predecessor Joe Biden administration continued the previous Trump's government's so-called  Maximum Pressure Campaign which was launced after pulling US out of the 2015 nuclear deal with Iran in May 2018.

Media reported a few days ago on Feb. 19 that Iran's exports of oil to China rebounded.

The February average of Iranian oil exports to its biggest buyer is set to average 1.74 million barrels daily, according to preliminary data from Kpler cited by Bloomberg. The figure is an 86% increase from January flows.

The boost in shipments was enabled by the opening of new receiving terminals and more ship-to-ship transfers, the Bloomberg report noted.

It is unclear if Trump's measures will push Iran's exports back down significantly, today's report by Reuters admitted. / Mehr