U.S. Sanctions Strike Iran's Oil Trade Network

The United States has imposed sanctions on entities involved in Iran's oil trade, targeting networks in China and the UAE. The sanctions aim to limit Iran's oil exports as part of a 'maximum pressure' campaign. High-risk oil transfers by companies linked to India-based Jugwinder Singh Brar are also affected.

The United States intensified its economic pressure on Iran by imposing fresh sanctions on its oil trading networks, including a terminal in China linked to an independent refinery. The targeted crude oil storage facility is operated by Guangsha Zhoushan Energy Group Co, LTD on Huangzeshan Island. Connected to a 'teapot' refinery, the terminal is part of efforts to curb Iran's oil revenues.

The sanctions are part of a strategy reintroduced by President Donald Trump to reduce Iran's oil exports to zero, aiming to prevent the country from obtaining nuclear weapons. The decision follows an announcement by Secretary of State Marco Rubio regarding upcoming U.S.-Iran talks in Oman, amid warnings from Trump about potential risks if negotiations fail.

The U.S. Treasury Department has also sanctioned UAE-based Indian national Jugwinder Singh Brar and associated entities for facilitating risky maritime transfers of Iranian oil. The sanctions freeze U.S. assets of the designated parties and prohibit American companies from engaging in business with them. Treasury Secretary Scott Bessent affirmed the commitment to disrupt Iran's oil trade channels.

(With inputs from agencies.)