1 week ago
New US Sanctions Target Iran’s Economy and Trading Partners
The United States announced new economic penalties aimed at putting pressure on Iran.
The plan also warns other countries and companies that trade with Iran.
Some foreign groups could lose access to the U.S. financial system if they help Iran avoid sanctions.
The new rules cover activities involving cryptocurrency, technology, gold, aviation and shipping.
Nearly 60 people, companies and vessels were specifically sanctioned.
The targets include networks linked to Iran’s missile and nuclear procurement.
The United States also accused some individuals of cybercrime and threats to its national security.
Other sanctions focus on Iran’s oil sales and the ships and companies involved in them.
Some licenses allowing remittances and Iranian access to U.S. cultural and academic systems were suspended.
U.S. Treasury Secretary Scott Bessent announced new sanctions and threats against countries trading with Iran.
The United States may set deadlines for governments to end economic activity with Iran or face unspecified penalties.
Nearly 60 entities, individuals and vessels were sanctioned over alleged Iranian defense, cyber, oil and financial activities.
Newly targeted activities include cryptocurrency, technology, gold, aviation, shipping, money laundering and sanctions evasion.
The sanctions include five tankers labeled blocked property and suspend some remittance, cultural and academic licenses.
- Who
- The U.S. Treasury Department, led by Secretary Scott Bessent, announced the measures against Iran-linked individuals, entities and vessels, as well as warning other governments and companies.
- What
- A new U.S. sanctions campaign combining specific sanctions with threats of additional penalties against countries and entities conducting economic activity with Iran.
- Where
- The announcement was reported from London and targets activities involving Iran and entities in the Middle East, Asia, China, the United Arab Emirates, Singapore and Hong Kong.
- When
- Monday, August 25; the report does not specify the year.
- Why
- To pressure Iran’s economy and disrupt networks linked by the United States to nuclear and missile procurement, cyberattacks and oil exports.
Key facts
- Announcing official
- U.S. Treasury Secretary Scott Bessent
- Sanctions authority
- The Treasury’s Office of Foreign Assets Control
- Number of specific targets
- Nearly 60 entities, individuals and vessels
- Newly covered activities
- Digital assets, technology, gold, aviation and shipping
- Oil-related targets
- Vessel brokers, bunkering providers, financial intermediaries and five tankers
- Additional pressure
- Foreign entities facilitating money laundering or sanctions evasion may be cut off from the U.S. financial system
- Suspended permissions
- Several licenses for remittance payments to Iran and Iranian access to U.S. cultural and academic systems
Sources
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