A day before U.S. and Iranian officials are set to meet in Geneva for a new round of nuclear talks, the Trump administration announced new sanctions targeting Iran’s so-called “shadow fleet” and networks tied to the regime’s weapons programs, the U.S. Department of the Treasury stated on Wednesday.
The department’s Office of Foreign Assets Control designated more than 30 individuals, entities and vessels involved in illicit Iranian petroleum sales and in supporting Tehran’s ballistic missile and advanced conventional weapons production.
“Iran exploits financial systems to sell illicit oil, launder the proceeds, procure components for its nuclear and conventional weapons programs, and support its terrorist proxies,” Scott Bessent, secretary of the Treasury, stated.
“Under President Trump’s strong leadership, Treasury will continue to put maximum pressure on Iran to target the regime’s weapons capabilities and support for terrorism, which it has prioritized over the lives of the Iranian people,” Bessent added.
According to the Treasury, the action targets 12 vessels—registered in Iran, Panama, the Marshall Islands and the British Virgin Islands—and their owners or operators that collectively transported hundreds of millions of dollars’ worth of Iranian petroleum and petrochemical products.
The sanctions also hit procurement networks in Iran, Turkey and the United Arab Emirates that officials say helped supply “precursor materials and sensitive machinery” for the U.S.-sanctioned Islamic Revolutionary Guard Corps and Iran’s Ministry of Defense and Armed Forces Logistics, supporting missile and unmanned aerial vehicle development.
Tommy Pigott, principal deputy spokesperson for the U.S. State Department, stated that the measures are intended to choke off revenue streams used for destabilizing activity.
“The Iranian regime continues to mismanage its economy, with catastrophic consequences for its people, and prioritizes funding of foreign proxies and missiles over the basic needs of ordinary Iranians,” Pigott said. “Today’s sanctions target the illicit funds that the regime uses to advance its malign and destabilizing ends.”
Wednesday’s move marks the latest in a series of “maximum pressure” steps aimed at Iran’s oil exports and military programs. The timing comes as Washington and Tehran prepare for indirect talks, where Iran is expected to press for sanctions relief.
Israel has urged that any agreement address Iran’s ballistic missile program and its support for regional terror proxies. Iranian officials, however, have insisted negotiations remain limited to the country’s nuclear activities.
