The U.S. Department of the Treasury on Monday imposed sanctions on nearly 60 entities, individuals, and vessels linked to Iran spanning nuclear energy, missile programs, cyber space, and the oil sector. U.S. Treasury Secretary Scott Bessent stated during a press conference that the sanctions target a network of brokerage firms and shadow fleet vessels operating in Hong Kong, China, Singapore, Switzerland, Europe, and other jurisdictions. The Department clarified that it identified five sectors for potential secondary sanctions: digital assets, technology, gold, aviation, and shipping. It also suspended general licenses that had previously authorized certain financial transactions involving Iran. Earlier on Monday, U.S. President Donald Trump asserted that Iran is 'collapsing,' ahead of his administration revealing details of the new economic measures against Tehran. Writing on his social media platform, Truth Social, Trump posted: 'Iran is completely collapsing!!!' The statement followed Treasury Secretary Scott Bessent’s announcement that the 'greatest financial offensive ever' against Iran would commence, with specific details disclosed during Monday's press briefing. A source familiar with Treasury plans noted that the department was expected to expand the scope of secondary sanctions targeting entities and countries maintaining commercial ties with Iran, as part of the administration's campaign to intensify economic pressure on Tehran. The United States threatened Iran with what it described as the 'greatest financial war ever,' as it rolled out economic sanctions targeting Iran's international trading partners. In response, Iran vowed to halt all oil exports from the Gulf 'if the economic war continues.' Tehran laid out six conditions for the United States to reopen the Strait of Hormuz, chief among them: ending military operations, lifting sanctions and blockades, withdrawing U.S. forces from the surrounding region, paying compensation for war damages, and releasing frozen Iranian assets. Meanwhile, Washington stated that Tehran committed not to levy transit fees on vessels and to permit the flow of oil through the strait, amid Oman-mediated negotiations regarding maritime arrangements. On June 18, 2026, Washington and Tehran signed a memorandum of understanding (MoU) regarding freedom of navigation in the Strait of Hormuz to pave the way for a final agreement, though implementation stalled over disputes concerning waterway security. Between July 8 and July 24, the United States resumed strikes on Iran, to which Tehran responded by targeting countries in the region, prior to resuming talks on safe transit corridors for ships through the Strait of Hormuz. The United States reinstated a naval blockade on Iranian ports in the Strait of Hormuz following a resurgence of clashes—described as the fiercest since a ceasefire took effect between both sides in April. Iran warned that renewing the naval blockade on its ports undermines the MoU signed with Washington. The broader conflict broke out on February 28 when Israel and the United States launched strikes on Iran, prompting Tehran to close the Strait of Hormuz, which prior to the war served as the primary maritime passage for roughly one-fifth of global energy supplies. Control over the strait remains a central strategic focal point in the conflict, granting Tehran significant leverage.
The U.S. Department of the Treasury on Monday imposed sanctions on nearly 60 entities, individuals, and vessels linked to Iran spanning nuclear energy, missile programs, cyber space, and the oil sector. U.S. Treasury Secretary Scott Bessent stated during a press conference that the sanctions target a network of brokerage firms and shadow fleet vessels operating in Hong Kong, China, Singapore, Switzerland, Europe, and other jurisdictions. The Department clarified that it identified five sectors for potential secondary sanctions: digital assets, technology, gold, aviation, and shipping. It also suspended general licenses that had previously authorized certain financial transactions involving Iran. Earlier on Monday, U.S. President Donald Trump asserted that Iran is 'collapsing,' ahead of his administration revealing details of the new economic measures against Tehran. Writing on his social media platform, Truth Social, Trump posted: 'Iran is completely collapsing!!!' The statement followed Treasury Secretary Scott Bessent’s announcement that the 'greatest financial offensive ever' against Iran would commence, with specific details disclosed during Monday's press briefing. A source familiar with Treasury plans noted that the department was expected to expand the scope of secondary sanctions targeting entities and countries maintaining commercial ties with Iran, as part of the administration's campaign to intensify economic pressure on Tehran. The United States threatened Iran with what it described as the 'greatest financial war ever,' as it rolled out economic sanctions targeting Iran's international trading partners. In response, Iran vowed to halt all oil exports from the Gulf 'if the economic war continues.' Tehran laid out six conditions for the United States to reopen the Strait of Hormuz, chief among them: ending military operations, lifting sanctions and blockades, withdrawing U.S. forces from the surrounding region, paying compensation for war damages, and releasing frozen Iranian assets. Meanwhile, Washington stated that Tehran committed not to levy transit fees on vessels and to permit the flow of oil through the strait, amid Oman-mediated negotiations regarding maritime arrangements. On June 18, 2026, Washington and Tehran signed a memorandum of understanding (MoU) regarding freedom of navigation in the Strait of Hormuz to pave the way for a final agreement, though implementation stalled over disputes concerning waterway security. Between July 8 and July 24, the United States resumed strikes on Iran, to which Tehran responded by targeting countries in the region, prior to resuming talks on safe transit corridors for ships through the Strait of Hormuz. The United States reinstated a naval blockade on Iranian ports in the Strait of Hormuz following a resurgence of clashes—described as the fiercest since a ceasefire took effect between both sides in April. Iran warned that renewing the naval blockade on its ports undermines the MoU signed with Washington. The broader conflict broke out on February 28 when Israel and the United States launched strikes on Iran, prompting Tehran to close the Strait of Hormuz, which prior to the war served as the primary maritime passage for roughly one-fifth of global energy supplies. Control over the strait remains a central strategic focal point in the conflict, granting Tehran significant leverage.
The U.S. Department of the Treasury on Monday imposed sanctions on nearly 60 entities, individuals, and vessels linked to Iran spanning nuclear energy, missile programs, cyber space, and the oil sector. U.S. Treasury Secretary Scott Bessent stated during a press conference that the sanctions target a network of brokerage firms and shadow fleet vessels operating in Hong Kong, China, Singapore, Switzerland, Europe, and other jurisdictions. The Department clarified that it identified five sectors for potential secondary sanctions: digital assets, technology, gold, aviation, and shipping. It also suspended general licenses that had previously authorized certain financial transactions involving Iran. Earlier on Monday, U.S. President Donald Trump asserted that Iran is 'collapsing,' ahead of his administration revealing details of the new economic measures against Tehran. Writing on his social media platform, Truth Social, Trump posted: 'Iran is completely collapsing!!!' The statement followed Treasury Secretary Scott Bessent’s announcement that the 'greatest financial offensive ever' against Iran would commence, with specific details disclosed during Monday's press briefing. A source familiar with Treasury plans noted that the department was expected to expand the scope of secondary sanctions targeting entities and countries maintaining commercial ties with Iran, as part of the administration's campaign to intensify economic pressure on Tehran. The United States threatened Iran with what it described as the 'greatest financial war ever,' as it rolled out economic sanctions targeting Iran's international trading partners. In response, Iran vowed to halt all oil exports from the Gulf 'if the economic war continues.' Tehran laid out six conditions for the United States to reopen the Strait of Hormuz, chief among them: ending military operations, lifting sanctions and blockades, withdrawing U.S. forces from the surrounding region, paying compensation for war damages, and releasing frozen Iranian assets. Meanwhile, Washington stated that Tehran committed not to levy transit fees on vessels and to permit the flow of oil through the strait, amid Oman-mediated negotiations regarding maritime arrangements. On June 18, 2026, Washington and Tehran signed a memorandum of understanding (MoU) regarding freedom of navigation in the Strait of Hormuz to pave the way for a final agreement, though implementation stalled over disputes concerning waterway security. Between July 8 and July 24, the United States resumed strikes on Iran, to which Tehran responded by targeting countries in the region, prior to resuming talks on safe transit corridors for ships through the Strait of Hormuz. The United States reinstated a naval blockade on Iranian ports in the Strait of Hormuz following a resurgence of clashes—described as the fiercest since a ceasefire took effect between both sides in April. Iran warned that renewing the naval blockade on its ports undermines the MoU signed with Washington. The broader conflict broke out on February 28 when Israel and the United States launched strikes on Iran, prompting Tehran to close the Strait of Hormuz, which prior to the war served as the primary maritime passage for roughly one-fifth of global energy supplies. Control over the strait remains a central strategic focal point in the conflict, granting Tehran significant leverage.
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US Imposes Sanctions on Nearly 60 Entities, Individuals, and Vessels Linked to Iran
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