Treasury sanctioned 17 vessels and their owners in Iran's shadow fleet, with Bessent vowing no enabler is safe. The catch: roughly 20M barrels of Iranian crude are already parked off southeast Asian p

What happened: The US Treasury sanctioned 17 vessels and their owners for shipping Iranian crude, petroleum products and petrochemicals, targeting the remaining "shadow fleet" moving Iranian oil to Asia. Key numbers: 17 vessels sanctioned; 6 individuals, 27 entities and 22 vessels designated; Starway cited for over Why it matters: Treasury said the action neutralizes most of Iran's remaining shadow fleet, while Secretary Bessent said Iran will have no oil on the water and no revenue. The IRGC has ramped up attacks on foreign vessels in the Strait of Hormuz, pushing global oil prices higher. Coverage: 3 outlets in 24h

The US Treasury sanctioned 17 vessels and their owners for shipping Iranian crude, petroleum products and petrochemicals, targeting the remaining "shadow fleet" moving Iranian oil to Asia.

Treasury said the action neutralizes most of Iran's remaining shadow fleet, while Secretary Bessent said Iran will have no oil on the water and no revenue. The IRGC has ramped up attacks on foreign vessels in the Strait of Hormuz, pushing global oil prices higher.