US Expands Sanctions on Iran’s Oil Minister and Shipping Networks

The United States Treasury Department has imposed fresh sanctions on Iran’s Oil Minister, Mohsen Paknejad, along with multiple international shipping entities allegedly involved in illicit oil trade. This decision is part of Washington’s intensified efforts to curb Tehran’s oil revenues, which the US claims are funding destabilizing activities.

According to the Treasury Department, Paknejad has played a pivotal role in coordinating multi-billion-dollar oil exports, directing substantial revenue toward Iran’s military. The department emphasized that these funds support Iran’s strategic ambitions rather than benefiting its citizens.

In addition to Paknejad, sanctions have been placed on various Hong Kong, Chinese, Indian, and Seychelles-based entities linked to Iran’s covert oil shipments. Among the flagged vessels are Hong Kong-registered “Peace Hill”, Iran-flagged “Polaris 1”, and Liberia-registered “Itaugua Services Inc”. These ships are allegedly part of a shadow fleet used to disguise the movement of Iranian crude oil.

The US State Department has also designated additional shipping companies and vessels as blocked property, restricting their ability to conduct international trade. This move aligns with the Trump administration’s commitment to enforcing maximum economic pressure on Iran’s energy sector.

While Iran continues to assert that its nuclear program is peaceful, US officials argue that cutting off oil revenue is essential to counter Iran’s regional influence and military financing.