US Imposes Fresh Sanctions on Shipping Network Smuggling Iranian Oil

Report by “Safarti Tarjuman” International News Desk

Washington — The United States Treasury Department has announced new sanctions targeting a network of shipping companies and vessels accused of smuggling Iranian oil disguised as Iraqi exports, in an effort to tighten restrictions on Tehran’s energy sector.

Treasury officials said the network, led by an Iraqi-Kittitian businessman, was involved in deceptive maritime practices, including false documentation and reflagging of vessels, to conceal the origin of Iranian oil.

US Treasury Secretary Scott Bessent emphasized that the move is part of Washington’s broader strategy to disrupt Iran’s oil revenue stream, which it says funds regional militancy and destabilizing activities.

> “By targeting Iran’s oil revenue stream, Treasury will further degrade the regime’s ability to carry out attacks against the United States and its allies,” Bessent stated.

He stressed that Washington will continue disrupting Tehran’s efforts to evade sanctions, including deceptive shipping practices, vessel reflagging, and falsified documentation.

The latest sanctions are expected to complicate global financial transactions, insurance, and logistics for companies linked to the designated entities. According to analysts, the US is now focusing not only on Iranian state oil companies but also on private sector actors enabling sanctions evasion.

The action comes at a time of heightened US-Iran tensions, with disputes over nuclear talks, the war in Gaza, and Tehran’s support for regional proxy groups driving diplomatic friction.

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