US issues new sanctions against Iran

The U.S. Treasury Department said on Friday it had ​imposed sanctions on a network of individuals, entities, ‌and tankers smuggling Iranian-origin liquid petroleum gas disguised as Omani LPG to South and East Asia.

The latest targets include ​12 entities, five of which are based in the ​Marshall Islands, four in the UAE, and one in China, according to details posted on the department's website. Six LPG ​tankers were targeted, including four Panama-flagged vessels.

The Treasury ​Department alleged the network used front companies ‌in ⁠the UAE and China, as well as foreign bank accounts, to move millions of barrels of Iranian LPG while concealing its origin to evade U.S. ​sanctions.

"Through Economic Fury, Treasury will continue ​to sever ⁠Iran's shadow fleet, shadow banking networks, and access to global trade," Treasury Secretary ​Scott Bessent said.

The ​department ⁠also imposed sanctions against Iranian exchange house Mehrdad Geramian Nik and Partners Co and its leadership, alleging they ⁠had ​moved hundreds of millions of ​dollars of foreign currency on behalf of sanctioned Iranian banks.