The Trump administration on Thursday targeted Iranian oil with a new slate of sanctions. This is a move to raise pressure on the Islamic Republic and sign contracts to prevent nuclear proliferation during talks between the US and Iranian officials, Fox News Digital learned.
The Ministry of Finance's Foreign Assets Bureau will manage increased pressure on Iran's oil exports on Thursday, designating the “Teapot” refinery Hebei Xinhai Chemical Group Co. in Shandong Province, China, and three port terminal operators, and the role of purchasing or promoting supply of hundreds of dollars worth of Iran's oil.
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According to the Ministry of Finance, the “Teapot” refinery purchases the majority of Iran's crude oil exports.
The Treasury Ministry on Thursday also imposed sanctions on several businesses, vessels and captains who say they are responsible for promoting Iran's oil shipments as part of Iran's so-called “shadow fleet.” All businesses and vessels are based in China.
This photo was released on November 5th, 2019 by the Iranian Atomic Energy Organization. (Iranian atomic energy organization, file via AP)
“As part of President Trump's widespread, aggressive maximum pressure campaign, the Treasury Department is targeting another teapot refiner who imported Iranian oil today,” Treasury Secretary Scott Bescent said. “The US remains determined to strengthen the administration's revenue-generating and fostering a volatile agenda in order to strengthen pressure on all elements of Iran's oil supply chain.”
Sanctions target President Donald Trump's executive order targeting the Iranian oil and petrochemical sector and another executive order targeting those that provide support to national Iranian oil companies.
The Treasury Ministry, led by Scott Bescent, has imposed sanctions on several companies, vessels and captains who say they are responsible for promoting Iran's oil cargo as part of Iran's so-called “shadow fleet.” (Jim Lo Scalzo/EPA/Bloomberg via Getty Images)
Thursday's sanctions are the latest round targeting Iranian oil sales since the president issued a national security memorandum in early February, in which he enacted a campaign for “Max Economic Pressure on Iran.”
As for Iran's “shadow fleet”, Tehran relies on obscure ship management companies to manage a fleet of tankers “covering” Iran's oil shipments to China, using ship-to-ship transfers with approved vessels.
The Treasury on Thursday took action to increase pressure on the actor's “shadow fleet” by designating the ship as “blocked property.”
Violating US sanctions could result in civil or criminal penalties on the US or foreign nationals, the Treasury said.
The imposition of sanctions comes as the US and Iran prepare for a fourth-round nuclear talks. We and Iranian officials are preparing for the next consultation to be held in Oman in the coming days.
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Vice President JD Vance recently previewed his next speech, saying on Wednesday the US was negotiating a “complete suspension” of Tehran's nuclear program.
The Trump administration has said that Iran did not prevent the construction of the atomic bomb, as the 2015 Obama-era Joint Comprehensive Action Plan (JCPOA) is also known as the Iranian nuclear credits.
Vice President JD Vance recently previewed the following speech on May 7, 2025, saying that the US was negotiating a “complete suspension” of Tehran's nuclear program. (Niall Carson/PA image via Getty Images)
Vance said he does not believe that it “actually helped prevent Iranians from walking their path to nuclear weapons.”
Vance also said the Trump administration believes there are several elements of Iran's nuclear program that have actually been “preserved” under the JCPOA.
“Yes, there were no nuclear weapons. Iran does not have nuclear weapons,” Vance said.
“I think there's a deal here that will reintegrate Iran into the global economy,” Vance said ahead of the talks. “It's really good for the Iranian people, but it's going to bring about a complete halt of the opportunity for them to get nuclear weapons. That's what we're negotiating. And, like the president said, it's option A.”
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If option A is “very good for Iranian people,” Vance said, and option B is “very bad.”
“It's very bad for everyone,” Vance said. “And that's not what we want, but it's better than Option C, where Iran has gotten nuclear weapons. It's something that's completely off the table of the US administration.
As for Trump, he said in a recent interview with NBC's “Meet the Press,” he would only accept “complete dismantling” of Iran's nuclear program.
