U.S. Treasury Sanctions 8 Vessels, 15+ Iran Firms
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- Treasury Department imposed new sanctions on Iran's military oil trade, targeting the revenue stream used to fund the armed forces.
- Washington reached a tentative agreement with Tehran to extend a ceasefire and lift shipping restrictions through the Strait of Hormuz.
- Eight vessels — including the Marshall Islands‑flagged Flora, Comoros‑flagged Hauncayo, and Panama‑flagged Ill Gap — were sanctioned for transporting Iranian crude and petroleum to global markets.
- Scott Bessent warned the sanctions aim to prevent the Iranian government from increasing oil revenue to reconstitute its military capabilities.
- President Donald Trump has not yet approved the ceasefire deal; the conflict, launched by the U.S. and Israel on Feb 28, has closed the Strait of Hormuz, which normally carries 20% of world oil and gas.
- Worth Seen Energy Limited (Hong Kong) was among more than 15 entities sanctioned; the Treasury said it procures refined petroleum for the National Iranian Oil Company on behalf of Sepehr Energy Jahan, the armed forces' oil sales arm.
Why it matters: The sanctions directly curb Iran’s oil income, starving the armed forces of funds while restricting dozens of shipping firms, whereas the tentative ceasefire could reopen the Strait of Hormuz, restoring a route that moves roughly 20% of world oil and gas and easing market pressure.
