The Treasury Department sanctioned over 30 entities, vessels, and individuals enabling Iranian oil sales and ballistic missile production on Wednesday, ahead of an important meeting over the Islamic regime’s nuclear ambitions.
The new sanctions target Iran’s “shadow fleet” vessels, which are alleged to transport petroleum and petroleum products to foreign nations in order to gain substantial revenue for funding terrorist groups and weapons programs. The Trump administration has previously levied sanctions against Iran’s shadow fleet as part of its pressure campaign.
“Iran exploits financial systems to sell illicit oil, launder the proceeds, procure components for its nuclear and conventional weapons programs, and support its terrorist proxies,” Treasury Secretary Scott Bessent said in a statement. “Under President Trump’s strong leadership, Treasury will continue to put maximum pressure on Iran to target the regime’s weapons capabilities and support for terrorism, which it has prioritized over the lives of the Iranian people.”
Wednesday’s action targets 12 shadow fleet vessels and extensive networks that supply the Islamic Revolutionary Guard Corps and Iran’s Ministry of Defense and Armed Forces Logistics with precursor chemicals and machinery components. The move is intended to disrupt the development of Iranian missiles and drones.
As the administration ramps up the pressure on Iran, American and Iranian officials are set to meet on Thursday in Geneva, where they will discuss a possible nuclear deal further after the 2015 nuclear deal expired in October 2025. Thursday’s nuclear talks will be mediated by Oman.
During his State of the Union address, President Donald Trump urged Iran to come to the negotiating table and make a deal.
“We are in negotiations with them,” he said. “They want to make a deal, but we haven’t heard those secret words: ‘We will never have a nuclear weapon.’”
If no deal is made soon, the U.S. military may launch strikes on Iran to force its hand. Iranian officials have repeatedly threatened to attack U.S. bases in the Middle East if conflict breaks out.
Trump’s Middle East special envoy, Steve Witkoff, and son-in-law Jared Kushner are reportedly guiding the president’s decision on possible military action. The two are trying to determine whether Iran is stalling on a deal.
Over the weekend, Witkoff said Iran has reached the 60% uranium enrichment level and is “probably a week away from having industrial-grade bombmaking material.” Nuclear weapons generally require 90% or higher for enriched uranium.
Countering Trump’s claims during the State of the Union, Iran’s foreign minister denied the country is developing long-range missiles to target American bases or European countries.
“We are not developing long-range missiles,” Abbas Araghchi said on Wednesday. “We have limited range to below 2,000 kilometers intentionally. We don’t want it to be a global threat. We only have [them] to defend ourselves. Our missiles build deterrence.”
VANCE SAYS HE HOPES IRANIANS TAKE NEW ROUND OF NEGOTIATIONS WITH THE US SERIOUSLY
In a message to Iranian officials, Vice President JD Vance said he hopes a deal can be made diplomatically.
“Iran can’t have a nuclear weapon,” Vance told Fox News’s America’s Newsroom. “I think the supreme leader and everybody in their system should understand it. We have been crystal clear. And we’re hopeful that we’re able to come to a good resolution without the military. But if we have to use the military, the president, of course, has that right as well.”
