U.S. Treasury Imposes Sanctions on Iran’s Military Oil Trade, Targets Eight Vessels

The U.S. Treasury said on Thursday it 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.

Treasury said it sanctioned eight vessels involved in transporting Iranian crude oil and petroleum products to global markets, including the Marshall Islands-flagged oil tanker Flora, the Comoros-flagged crude oil tanker Hauncayo, and the Panama-flagged tanker Ill Gap.

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Treasury Secretary Scott Bessent said in a release, "We will not allow the Iranian government to increase its oil revenue for the purpose of reconstituting its armed forces and military capabilities," as the sanctions campaign continued alongside U.S. efforts to pressure Iran’s maritime access.

The new measures came as U.S. President Donald Trump had "yet to approve the deal" in the war the U.S. and Israel launched on February 28, with the conflict having roiled global markets by closing the strait off Iran and Oman through which 20% of the world's oil and gas normally flowed.

Bessent also used X/Twitter to warn that the U.S. would not tolerate a tolling system in the Strait of Hormuz, writing that America would "aggressively target" any entities involved in facilitating tolls and warning Oman to keep the threat in mind.

In the same reporting, Trump said during a cabinet meeting, "Oman will behave like everybody else, or we’ll have to blow them up," after the conflict closed the strait off Iran and Oman.

Al-Jarida Al-Borsa

Kurdistan24 said Bessent described the Treasury’s campaign as "Economic Fury" and wrote that "The Iranian economy and currency are in free fall," while claiming Iranian security forces were facing payment problems and Kharg Island operations were disrupted.

Bessent further said the U.S. was preparing additional restrictions targeting Iranian airlines, including limiting their access to international landing rights, aircraft refueling services, and ticket sales, as the diplomatic talks continued.

The U.S. also imposed sanctions on Iran’s newly created Persian Gulf Strait Authority, with PBS saying the Treasury targeted the agency that is trying to control shipping through the Strait of Hormuz and charge tolls that could reach as high as $2 million per vessel.

“US imposes fresh sanctions on Iran's military oil sales, Treasury says WASHINGTON, May 28 (Reuters) - The U”

Al-Monitor

PBS quoted Treasury Secretary Scott Bessent saying, "The Iranian military's latest attempt to extort global maritime trade is proof that Economic Fury has left the regime desperate for cash," as the sanctions move followed U.S. forces carrying out strikes on an Iran military facility after downing Iranian attack drones.

In parallel, the New York Post reported Bessent said the administration would be "shutting down" Iranian airlines’ access to landing spots, refueling, and ticket sales, and Bessent told a Post reporter that the airlines were "outlaws."

The National reported Bessent said Iran's Strait Authority is "a joke" and said he had warned Oman that the Treasury would "aggressively" attack anyone involved in enabling tolls in the strait, while also saying the U.S. would not restrict on Muslims travelling for religious purposes.