US targets Iran oil trade, Hezbollah with new sanctions
Six entities and four vessels associated with Iran were sanctioned for knowingly engaging in a significant transaction related to the purchase, acquisition, sale, transport, or marketing of petroleum, petroleum products, or petrochemical products from Iran.
A network of companies is run by Iraqi businessman Salim Ahmed Said, according to State Department spokesperson Tammy Bruce.
'Concurrently, the Department of the Treasury is designating oil smuggling networks that have collectively transported and purchased billions of dollars' worth of Iranian oil,' Bruce said in a Wednesday statement.
'Treasury is also sanctioning several shadow fleet vessels engaged in the covert delivery of Iranian oil.'
Several additional companies and three shadow fleets linked to Iranian oil trades will also face new sanctions.
Kaveh Methanol Company, Aria International, Asian Sea Angel Shipping Company, Sai Saburi Consulting Services, Breeze Marine Asset Management and Isle Innovation will be subject to penalties outlined in a separate Wednesday release.
'The Iranian regime continues to fuel conflict and instability in the Middle East, disrupt trade flows, and fund terrorist and proxy groups,' Bruce said of the financial measures.
'Today, the United States is taking action to stem the flow of revenue that the regime uses to support such destabilizing activity, as well as to oppress its own people,' she added.
The move comes a week after President Trump said he would permit China to buy Iranian oil without additional U.S. sanctions.
'China can now continue to purchase Oil from Iran. Hopefully, they will be purchasing plenty from the U.S., also,' Trump wrote in a Truth Social post last Tuesday, before the U.S. struck Iran's nuclear development sites.
Both the U.S. and China are working to reduce tensions following a trade war in April, while the White House negotiates economic tariff deals with countries worldwide.
The State Department said Wednesday it would make an effort to help Lebanon by sanctioning companies connected to the terrorist group, Hezbollah.
Seven senior officials and one entity linked to Al-Qard Al-Hassan (AQAH), a Hizballah-controlled financial institution, will face economic restrictions.
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