US imposes fresh sanctions on Iran's military oil sales, Treasury says

Published 29 May, 2026 03:14pm 2 min read

The US said on Thursday it has imposed new sanctions on Iran’s ​military oil trade, even as Washington and Tehran reached a ‌tentative agreement to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz.

The Treasury Department said it had sanctioned eight vessels involved in ​transporting Iranian crude oil and petroleum products to global markets. ​

The vessels included the Marshall Islands-flagged oil tanker Flora, the ⁠Comoros-flagged crude oil tanker Hauncayo and the Panama-flagged tanker Ill Gap.

“We ​will not allow the Iranian government to increase its oil revenue ​for the purpose of reconstituting its armed forces and military capabilities,” Treasury Secretary Scott Bessent said in a release.

President Donald Trump has yet to approve the ceasefire deal ​on the war, which the US and Israel launched on February ​28.

The conflict has roiled global markets by closing the vital strait off Iran ‌and ⁠Oman through which 20% of the world’s oil and gas normally flowed.

The US also imposed sanctions on more than 15 entities, including Worth Seen Energy Limited in Hong Kong, Symphony Shipping and Maritime Management ​Inc in Dubai, ​and Mehdiyev ⁠Trading Co, also in Hong Kong.

The Treasury Department said some of the sanctioned Iranian entities also use the ​oil sales infrastructure of the Iranian armed forces ​to secure ⁠oil products from outside Iran.

It said Worth Seen, for example, procures refined petroleum products for the National Iranian Oil Company on behalf of ⁠Sepehr ​Energy Jahan, the oil sales arm of ​Iran’s Armed Forces General Staff, which the US has previously hit with sanctions.

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