The United States has announced a new round of economic sanctions against Iran, targeting what Washington described as Tehran’s secret oil economy. US officials allege that Iran uses illegal oil trade revenues to finance the Islamic Revolutionary Guard Corps, military operations, and allied groups across the region.
The new sanctions target several ships, companies, and entities allegedly involved in transporting Iranian oil and petrochemical products. The move comes amid reports of a temporary understanding between Washington and Tehran regarding an extension of the ceasefire and easing shipping restrictions in the Strait of Hormuz, although President Donald Trump has not yet given final approval to any agreement.
US State Department spokesperson Tommy Pigott said on the social media platform X that the United States is targeting Iran’s shadow fleet and illicit oil network under a campaign called Economic Fury.
According to the US State Department, the sanctions aim to block billions of dollars in revenue allegedly used by Iran’s Revolutionary Guards and allied groups for attacks against US partners and regional interests.
The sanctions include eight entities and eight vessels accused of transporting Iranian petroleum and petrochemical products. The vessels listed as blocked property include the Marshall Islands-flagged tanker Flora, the Comoros-flagged Huancayo, and the Panama-flagged El Gap.
More than 15 additional companies and organizations were also sanctioned, including Hong Kong-based Worthy Sense Energy Limited, Dubai-based Symphony Shipping and Maritime Management, and Hong Kong’s Mehdi Yusef Trading Company.
The statement claimed that Worthy Sense was involved in petroleum transactions for Sepehr Energy Jahan, described by Washington as a company linked to the Iranian Armed Forces General Staff.
The United States warned global companies and traders that any involvement in Iran’s illegal oil trade or cooperation with Iranian energy products could result in American sanctions.
The statement further said that the US would continue taking action worldwide against individuals and organizations accused of providing Iran with financial resources for operations against neighboring countries or its own citizens.
The State Department also referred to the Rewards for Justice program, which offers up to 15 million dollars for information related to the financial activities of the Revolutionary Guards and its Quds Force.
US officials accused the Revolutionary Guards of financing various international attacks and activities, while the Quds Force was described as overseeing Iran’s overseas operations and maintaining ties with pro-Iran militias in the region.
Meanwhile, negotiations between the United States and Iran continue over Tehran’s nuclear program and enriched uranium stockpiles. No final announcement has yet been made regarding a possible memorandum of understanding between the two countries.
Media reports suggest that significant progress has been achieved in the talks, but final approval from President Donald Trump is still awaited. Following that, discussions on extending the ceasefire and negotiations over Iran’s nuclear activities are expected to move forward. Trump reportedly informed mediators that he needs several more days to review and sign the agreement.
US Vice President JD Vance also commented on the negotiations, saying the progress so far has been encouraging and that Iran is now showing signs of goodwill. However, he added that it is still too early to say whether President Trump will formally approve the agreement.
