US Threatens Sanctions on Vessels, Individuals Aiding Iran's Oil Trade
Bessent confirmed that a naval blockade of Iranian ports remains firmly in place, running alongside an intensifying financial campaign designed to hollow out Iran's oil-dependent economy. Writing on X, the US social media platform owned by Elon Musk, the Treasury chief painted a dire picture of Tehran's near-term energy outlook.
"In a matter of days, Kharg Island storage will be full and the fragile Iranian oil wells will be shut in. Constraining Iran's maritime trade directly targets the regime's primary revenue lifelines," he said.
Bessent further warned that his department would press forward with what he termed a "maximum pressure" strategy, aimed at severing Iran's capacity to generate, move, and repatriate money across global financial channels.
"Any person or vessel facilitating these flows—through covert trade and finance—risks exposure to U.S. sanctions. We continue to freeze the funds stolen by the corrupt leadership on behalf of the people of Iran," he wrote.
The warning landed amid a turbulent session in global oil markets on Tuesday, after President Donald Trump announced a two-week ceasefire with Iran would be extended — even as the naval blockade continues — sending prices on a volatile swing as traders weighed the conflicting signals from Washington.
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