The statement from the US Treasury Department reported that the Office of Foreign Assets Control (OFAC) has taken additional steps against Iran's military oil sales.
The statement said that these sales allow Iran to finance the reconstruction of its armed forces and continue its threats against the US and its partners in the region, and that the Iranian army generates revenue by selling Iranian crude oil through a number of front companies.
The statement said that Sepehr Energy Jahan, the oil marketing arm of the Iranian General Staff, largely relies on shadow fleet vessels and front companies to export oil, and in this context, various companies were added to the sanctions list.
US Treasury Secretary Scott Bessent noted the following in his assessment of the matter:
“The Treasury Department will continue to increase pressure on Iranian oil sales to deprive Iran and its military of the financial resources they need to threaten U.S. allies and partners in the Middle East. We will not allow the Iranian government to increase oil revenues to rebuild its armed forces and military capabilities.”
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