The United States government imposed new sanctions on Iran’s military oil trade on Thursday, May 28, even as Washington and Teheran reached a tentative agreement to extend their ceasefire and lift shipping restrictions through the Strait of Hormuz, as reported by Businesstimes.
The restriction targets the financial infrastructure supporting the Iranian armed forces, blocking global market access for entities accused of facilitating illicit petroleum transport. According to the US Treasury Department, the newly blacklisted maritime assets include eight specific vessels involved in transporting Iranian crude oil and petroleum products worldwide.
Among the named vessels are the Marshall Islands-flagged oil tanker Flora, the Comoros-flagged crude oil tanker Hauncayo, and the Panama-flagged tanker Ill Gap. Government officials stated that the measures aim to disrupt the funding mechanisms that allow Teheran to rebuild its military assets following recent regional hostilities.
“We will not allow the Iranian government to increase its oil revenue for the purpose of reconstituting its armed forces and military capabilities,” said Scott Bessent, US Treasury Secretary.
The enforcement actions come at a critical diplomatic juncture as US President Donald Trump has yet to approve the formal ceasefire deal concerning the war with Iran. The conflict, which was launched by the United States and Israel on February 28, has severely disrupted global energy markets by closing the strategic waterway situated between Iran and Oman.
Approximately 20 percent of the world’s oil and gas supply normally flows through the Strait of Hormuz, making its stabilization a priority for international trade. Alongside the shipping fleet, the US Treasury Department designated more than 15 entities across multiple jurisdictions, including Worth Seen Energy and Mehdiyev Trading in Hong Kong, as well as Symphony Shipping and Maritime Management in Dubai.
American authorities reported that certain penalized Iranian entities rely heavily on the domestic military sales infrastructure to secure petroleum products from external suppliers. Worth Seen Energy, for instance, reportedly procures refined petroleum products for the National Iranian Oil Company on behalf of Sepehr Energy Jahan, which serves as the oil sales arm of Iran’s Armed Forces General Staff and was previously sanctioned by the United States.
