New Iran-related sanctions targeting tankers issued by US Treasury Department

NEWS SUMMARY

The United States Treasury Department sanctioned eight tankers and 10 entities, including six based in China, on Wednesday as part of an effort to disrupt an IRGC-backed extortion scheme in the Strait of Hormuz. Treasury Secretary Scott Bessent stated the sanctions target Iran's "Hormuz Safe" program, which forces ships to buy maritime insurance to finance the regime's activities amid its economic struggles.

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“With its economy in freefall and inflation in the triple digits, the regime is desperate for cash,” said Treasury Secretary Scott Bessent.

New Iran-related sanctions targeting tankers issued by US Treasury Department

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