The U.S. Department of the Treasury announced the imposition of new sanctions targeting Iran's oil and petrochemical sectors.  These sanctions include one individual, several entities, and ships, notably the "Tiput" oil refinery, which was described as the "main economic lifeline of the Iranian regime.

According to the Treasury's official website, the sanctions target the China-based Tiput oil refinery and its executive director, Wang Xueqing, for purchasing and refining Iranian crude oil worth hundreds of millions of dollars.

The sanctions also apply to 19 entities and ships responsible for shipping millions of barrels of Iranian oil, forming part of Iran's "shadow fleet" used to transport crude oil.

U.S. Treasury Secretary Scott Bissent stated, "Purchases of Iranian oil by the Tiput refinery constitute the primary economic lifeline of the Iranian regime, which is the world's largest state sponsor of terrorism." He added, "The United States is committed to cutting off revenue streams that enable Tehran to continue funding terrorism and advancing its nuclear program.

The Treasury noted that Iran uses extensive networks of tankers and ship management companies to export oil, employing tactics such as document forgery and disabling ship tracking systems.

These sanctions block all properties and interests linked to the designated entities within the United States. They also prohibit U.S. persons or residents from engaging with these parties, with violators facing civil or criminal penalties.