US Warns of Sanctions on Trade Networks Linked to Iran
US Treasury Secretary Scott Bessent stated that the United States will continue restricting maritime activity tied to Iran while increasing financial pressure aimed at weakening the country’s oil-dependent economy.
He said that measures targeting Iranian exports are intended to disrupt key revenue sources, adding in a post on social media:
"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 on US social media company X.
He further said that Washington will maintain what he described as a “maximum pressure” approach designed to restrict Iran’s ability to generate and move funds internationally.
"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.
Reports indicate that oil markets experienced sharp fluctuations following announcements related to a temporary ceasefire extension involving US President Donald Trump and ongoing maritime restrictions, with Washington continuing what it describes as a naval blockade of Iranian ports.
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