US: IRAN: Trump Admin Applies First Sanctions On Iranian Oil

The US Treasury Department issued a statement confirming the first Trump administration sanctions on Iranian crude oil, targeting "an international network for facilitating the shipment of millions of barrels of Iranian crude oil worth hundreds of millions of dollars to the People’s Republic of China (PRC)."

• The statement notes the action, "also includes entities and individuals in multiple jurisdictions, including the PRC, India, and the United Arab Emirates (UAE), as well as several vessels."
• Treasury Secretary Scott Bessent said in a statement: “The Iranian regime remains focused on leveraging its oil revenues to fund the development of its nuclear program, to produce its deadly ballistic missiles and unmanned aerial vehicles, and to support its regional terrorist proxy groups. The United States is committed to aggressively targeting any attempt by Iran to secure funding for these malign activities.”
• The action comes after President Donald Trump returned US policy to ‘maximum pressure’ on Iran, pledging in an executive order to drive "Iran’s oil exports to zero”, and vowing to prevent Tehran from acquiring a nuclear weapon. Trump left the door ajar for negotiations with Tehran on a new nuclear accord, saying “I would much prefer a Verified Nuclear Peace Agreement,” and revealing to reporters on Tuesday he would be willing to talk to his Iranian counterpart.
• FT reports Iran may be positioning itself for negotiations with the Trump administration, describing this year as maybe the “most consequential” for Iran since the 1980s Iran-Iraq war.