US issues new sanctions as it dials up pressure on Iran

"Iran exploits financial systems to sell illicit oil, launder the proceeds, procure components for its nuclear and conventional weapons programs, and support its terrorist proxies, Secretary of the Treasury Scott Bessent said in a statement. Under President Trump's strong leadership, Treasury will continue to put maximum pressure on Iran to target the regime's weapons capabilities and support for terrorism."

"Wednesday's penalties targeted 12 vessels, as well as several companies and individuals that the US said are involved in Iran's oil sales and weapons acquisition. The new sanctions will freeze targeted assets of the designated firms and individuals in the US and make it mostly illegal for American citizens to engage in financial transactions with them."

"While the US describes the Iranian oil trade as illicit, Iran, which is selling its own petroleum products, describes the crackdown on its energy sector as piracy. The US has been intensifying sanctions against Iran as it amasses military assets including two aircraft carriers and large fleets of fighter jets in the region."

The Trump administration issued sanctions targeting 12 vessels and multiple companies and individuals involved in Iranian oil sales and weapons acquisition. Treasury Secretary Scott Bessent stated Iran exploits financial systems to sell illicit oil, launder proceeds, and procure components for nuclear and conventional weapons while supporting terrorist proxies. The US describes Iranian oil trade as illicit, while Iran characterizes the energy sector crackdown as piracy. These penalties freeze targeted assets in the US and restrict American financial transactions with designated entities. The sanctions follow Trump's renewed threats against Iran in his State of the Union address and represent continued pressure since Trump withdrew from the JCPOA nuclear agreement in 2018.

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