The United States has announced fresh Iran oil trade sanctions, targeting 20 companies for their role in helping Iran sell oil and petrochemical products. Among these, six firms are based in India. The move is part of a wider effort by Washington to block Iran’s oil revenue channels.
According to a statement from the US State Department on July 30, these companies supported the trade of Iranian oil, which the US claims funds activities that destabilize the Middle East. The new sanctions include oil transporters and firms involved in petrochemical sales.
The sanctioned entities are based in several countries, including India, Turkey, Indonesia, and the United Arab Emirates. Ten oil tanker companies have also been penalized for transporting Iranian oil.
The US Treasury Department expanded the list further by placing restrictions on more than 115 individuals, companies, and vessels. Many of these are believed to have played a key role in shipping Iranian petroleum products globally.
One notable figure mentioned is Mohammad Hossein Shamkhani, son of senior Iranian advisor Ali Shamkhani. The Treasury alleges that he runs a fleet of over 50 ships moving both Iranian and Russian oil. These operations are estimated to have earned billions of dollars, which the US claims helps finance Iran’s regional activities.
US officials argue that Iranian elites are using their power to build personal wealth while supporting the government’s controversial actions. Treasury Secretary Scott Bessent called the sanctions a response to Iran’s use of oil revenue for “dangerous behavior.”
Iran has strongly rejected the sanctions. Foreign ministry spokesman Esmaeil Baqaei condemned them as “malicious” and harmful to the Iranian people. He described the US actions as an “economic crime” and “a clear sign of hostility.”
The latest measures are part of the US’s ongoing pressure campaign against Iran, aimed at limiting its oil exports and reducing its financial influence in the region.
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