U.S. Unleashes New Iran Sanctions, Targets Oil, Crypto and Trade Networks

U.S. Treasury Secretary Scott Bessent unveiled a sweeping new sanctions campaign against Iran on Monday, targeting Tehran’s oil exports, military procurement, cyber operations and international financial networks while warning foreign trading partners of potential penalties.

The Treasury Department described the measures as an “economic onslaught” designed to increase pressure on Iran. However, the announcement stopped short of imposing some of the harshest possible restrictions and did not identify which countries could face additional sanctions or when they might take effect.

Washington said it will establish timelines for governments to reduce or end economic activity with Iran. Foreign companies and financial institutions accused of facilitating sanctions evasion or money laundering could also lose access to the U.S. financial system.

The expanded secondary sanctions framework covers a broader range of Iran-related activities, including cryptocurrency and other digital assets, technology, gold, aviation and shipping. The rules could affect companies, individuals and organizations regardless of where they operate.

The Treasury’s Office of Foreign Assets Control added nearly 60 Iran-linked individuals, entities and vessels to its sanctions lists. Targets include networks allegedly supporting Iran’s ballistic missile and nuclear programs, cyber groups accused of attacking U.S. infrastructure, and businesses involved in Iranian oil exports.

More than 20 sanctions focus on entities and individuals across Asia and the Middle East accused of providing financial or logistical assistance for Iranian nuclear research and missile development. China-based companies allegedly supplying dual-use goods to a sanctioned Iranian technology institute were among those targeted.

Washington also intensified efforts to disrupt Iran’s oil trade by sanctioning vessel brokers, bunkering providers and financial intermediaries, including entities in the United Arab Emirates, Singapore and Hong Kong.

Five tankers identified by the Treasury as part of Iran’s “shadow fleet” were designated blocked property. The designation generally prohibits U.S. persons from conducting financial transactions involving those vessels.

The latest U.S. sanctions significantly broaden Washington’s economic pressure campaign, increasing risks for companies and governments that continue doing business with Iran.