The U.S Department of the Treasury announced the sanctioning of “over 30 individuals, entities, and vessels enabling illicit Iranian petroleum sales and Iran’s ballistic missile and advanced conventional weapons (ACW) production” through the Office of Foreign Assets Control (OFAC), as part of the agency’s continuous maximum pressure campaign on Tehran.
“Specifically, OFAC targeted additional vessels operating as part of Iran’s shadow fleet, which transport Iranian petroleum and petroleum products to foreign markets and serve as the regime’s primary source of revenue for financing domestic repression, terrorist proxies, and weapons programs,” the press release states.
In addition, OFAC sanctioned multiple networks that provided aid to Iran’s Islamic Revolutionary Guard Corps (IRGC) and Ministry of Defense and Armed Forces Logistics (MODAFL) to gather the necessary materials and machinery needed to “reconstitute ballistic missile and ACW production capacity, as well as proliferate unmanned aerial vehicles (UAVs) to third countries.”
“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,” said Secretary of the Treasury Scott Bessent. “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, which it has prioritized over the lives of the Iranian people.”
Tensions continue to rise as negotiations between Iran and the US approach. Both nations are scheduled to continue talks in Geneva, with Iranian officials urging Washington to use diplomacy or face the Islamic Republic’s wrath.
The US is preparing itself for a potential military operation, assembling its largest deployment of aircraft and vessels along the Middle East in decades. The deployment comes after President Donald Trump had announced during his Board of Peace event that Iran had 10 days to reach a deal.
The day before the U.S. Department of the Treasury’s announcement, President Trump held his State of the Union address in which he also drew attention to the nuclear agreement between the two.
“They’ve already developed missiles that can threaten Europe and our bases overseas, and they’re working to build missiles that will soon reach the United States of America,” President Trump said.
