The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced new sanctions today targeting a network of front companies and shipping intermediaries that finance Iran’s armed forces through crude oil sales.

Treasury Secretary Scott Besant stated, “Today’s action is part of the Treasury’s campaign to cut off funding for the Iranian regime’s nuclear weapons development and its terrorist proxies.”

Besant added, “Disrupting the Iranian regime’s revenue is critical to helping curb its nuclear ambitions.”

OFAC also sanctioned six vessels, expanding restrictions on the informal tanker fleet Iran relies on to export its oil to global markets.

Under President Donald Trump’s administration, sanctions were previously imposed on more than 170 ships responsible for transporting Iranian oil and petroleum products, increasing costs for Iranian exporters and reducing the revenue Iran earns per barrel sold.

Additionally, OFAC took further action today against Iranian airline Mahan Air, which has closely cooperated with the Islamic Revolutionary Guard Corps’ Quds Force to arm and supply Iran-backed groups across the Middle East.