US Treasury announces new round of Iran-related sanctions targeting tankers and insurers

The US Treasury Department announced a new round of Iran-related sanctions on Wednesday, 29 July 2026 (7 Mordad 1405). According to the Treasury, the round designated 10 entities and eight more tankers, with six of those entities based in China. The Treasury said the action targets Iran's efforts to monetise the Strait of Hormuz.

According to the same report, the Treasury's Office of Foreign Assets Control has sanctioned more than 100 vessels linked to Iran's shadow oil fleet since the start of 2026.

The action was announced hours after Donald Trump's remarks on Wednesday about striking Iran, which followed a US military statement that it had intercepted several ballistic missiles fired by Iran toward American forces in the region. Oil exports and the channels through which the resulting foreign currency is received are the main route by which these sanctions bear on Iran's external balance.