The United States has ramped up sanctions on tankers transporting Iranian oil, further complicating the already challenging logistics of moving the commodity. According to Bloomberg, the new sanctions target an additional nine vessels and eight companies involved in the trade of Iranian oil.
The US State Department and Treasury Department have added the MS Enola, a ship with a long history of trading Iranian oil, to the sanctions list. These measures are expected to severely disrupt Iranian oil exports, particularly to China, the largest buyer of the commodity.
The Biden administration is also exploring new restrictions on Russian oil trade, with the G7 countries seeking ways to tighten the price cap on Russian crude.
Notably, the United States has sanctioned over 70 vessels, including supertankers used to transport Iranian oil to China, since October 11, 2024.
In addition, the US government has imposed restrictions on financial channels linked to Houthi militants in Yemen, including three Malaysian companies that provide services to transport Iranian oil to customers in East Asia.
