The US Treasury Department issues sanctions against Iran’s oil minister Mohsen Paknejad, as President Donald Trump seeks to increase pressure on Tehran.
“The Iranian regime continues to use the proceeds from the nation’s vast oil resources to advance its narrow, alarming self-interests at the expense of the Iranian people,” US Treasury Secretary Scott Bessent says in a statement.
The sanctions also designate three entities engaged in the Iranian oil trade in China, and names three shipping vessels as blocked property for their use in the transactions.
“These entities provide services to the ghost fleet vessels…enabling Iran’s attempts to disguise its illicit oil trade,” US State Department spokeswoman Tammy Bruce says in a statement.
“Today’s action advances President Trump’s policy of maximum pressure on the Iranian regime.”
Since returning to the White House in January, Trump has called for a new nuclear deal with Tehran while reinstating his “maximum pressure” policy of sanctions.
The latest sanctions come after the Trump administration sent a letter to Iran’s supreme leader Ayatollah Ali Khamenei urging negotiations and warning of possible military action if Iran refused.
Help us report truthfully on social media
As a multimedia journalist, my job is to take the quality, fact-based journalism produced by The Times of Israel newsroom and make it accessible across every platform — from Instagram posts to podcasts to short-form videos.
This is how many, especially young people, consume news these days. But misinformation is rampant on social media. Our team at ToI produces accurate, responsible short-form reporting on Israel and the Jewish world.
If you believe in the importance of factual social media journalism, please consider joining our reader support group, The Times of Israel Community. Your financial support is essential to sustain responsible multimedia reporting.
— Gabriella Jacobs, multimedia journalist
Support our work
Support our work
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
From the Liveblog of
Thursday, March 13, 2025
Add ToI as a Preferred Source on Google
