Mon Feb 24 19:26:35 UTC 2025: ## US Slams Iran with New Sanctions Targeting Oil Sales Network
**Washington D.C. -** The United States has announced a new wave of sanctions targeting over 30 individuals and entities linked to Iran’s oil industry, escalating its “maximum pressure” campaign against the country. The Treasury Department sanctioned the head of Iran’s National Iranian Oil Company (NIOC), Hamid Bovard, along with numerous oil brokers, tanker operators, and vessels involved in the sale and shipment of Iranian oil.
These sanctions, the second round since President Trump reinstated his hardline policy earlier this month, aim to cripple Iran’s ability to generate revenue from oil exports. The Treasury Department stated that the targeted individuals and entities facilitated the sale of tens of millions of barrels of crude oil, valued at hundreds of millions of dollars, using a complex network of ship-to-ship transfers to evade existing sanctions.
The targeted network includes individuals based in the UAE and Hong Kong, and tanker operators and managers in India and China. The State Department concurrently announced sanctions against an additional 16 companies and ships involved in Iran’s petroleum and petrochemical sectors.
Treasury officials emphasized the US commitment to disrupting all aspects of Iran’s oil supply chain, warning that any involvement in Iranian oil transactions carries significant risk of US sanctions. The move follows previous sanctions targeting an international network funneling illicit funds to the Iranian military. The administration is clearly signaling its intent to maintain intense pressure on Iran through financial restrictions.
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