US Imposes New Sanctions on Iran Targeting Oil Traders

On [date not specified], the United States announced sweeping new sanctions on Iran under "Operation Economic Outcast," targeting its military procurement networks, petroleum and petrochemical traders, and shadow fleet operators. The US Department of State and Treasury stated that the sanctions aim to restrict revenues that support Iranian military activities and terrorism.

Nearly 60 individuals, entities, and vessels are affected, including companies from India and Turkey involved in importing Iranian petroleum products. US Treasury Secretary Scott Bessent described the initiative as an "economic onslaught" against Iran, emphasizing the goal of severing financial lifelines to the Iranian regime.

The sanctions also extend to senior Iranian military officials, including IRGC Commander Ahmad Vahidi and others, accused of supporting military operations. Bessent indicated that US President Donald Trump is contacting world leaders to halt economic interactions with Tehran, raising concerns about China's response as Iran's largest trading partner.