The U.S. Department of State has announced sanctions on three entities and identified three vessels as blocked property in an effort to halt the revenue flow that supports Iran's destabilizing activities. These entities are involved in services for ghost fleet vessels conducting ship-to-ship transfer operations outside port limits in Southeast Asia, which aid Iran in disguising its illicit oil trade.
Simultaneously, the Department of the Treasury is designating Iran’s Minister of Petroleum, Mohsen Paknejad, along with several entities transporting Iranian oil to China. Their vessels will also be identified as blocked property. The Iranian regime, with the assistance of Mohsen Paknejad, is accused of misappropriating the nation's oil wealth.
This move aligns with President Trump's policy of maximum pressure on Iran, aiming to eliminate its nuclear threat, restrict its ballistic missile program, and prevent support or rebuilding of terrorist proxy groups by reducing Iran's oil exports to zero, particularly those to China.
The U.S. government emphasizes its commitment to disrupting illicit funding channels to curb malign activities and limit financial resources available to corrupt officials. It plans to use all available tools to hold the Iranian regime accountable.
Today's action by the State Department is pursuant to Executive Order 13846 targeting transactions involving petroleum from Iran. Concurrently, the Treasury Department's action follows Executive Order 13902 focusing on Iran’s petroleum and petrochemical sectors. These measures represent the third round of sanctions targeting Iranian oil sales since National Security Presidential Memorandum 2 was issued on February 4, 2025, which ordered a campaign of maximum pressure on the Iranian regime.
