On Friday, the Trump administration announced new sanctions aimed at Iran. These measures target companies and individuals suspected of supporting Tehran's military programs.
New Sanctions Against Iran
The US Treasury announced sanctions against eight entities, one person, and one ship involved in supplying sensitive technology for missile and drone development. Among those named are Hong Kong-based Unico Shipping Co Ltd and Athena Shipping Co Ltd, which are suspected of transporting equipment to Iran's defense sector.
> “The United States is resolved to disrupt any effort by Iran to procure sensitive, dual-use technology and components that underpin its ballistic missile and unmanned aerial vehicle programs,” said US Treasury Secretary Scott Bessent.
Sanctions on Houthis
On the same day, Trump’s Treasury Department rolled out additional sanctions against a supply network supporting the Houthis, the Iran-backed militant group in Yemen. This measure targets four individuals, 12 companies, and two vessels involved in moving oil and illicit goods to generate revenue for the rebels. US officials stated the goal is to cut off funding streams for Iran's proxy warfare in the region.
Oil Market Under Pressure
Following the sanction announcements, oil prices fell, with Brent ending the day down 2.33%, closing at $77.01 per barrel. Traders are closely monitoring the Strait of Hormuz, a critical route for Middle Eastern oil exports. "If Iran blocks the strait or if Israel targets Iran’s export infrastructure, crude could spike dramatically,” warned analyst Ashley Kelty. Meanwhile, in the US, there is also pressure on the supply side, as reported declines in the rig count reach the lowest levels since November 2021.
The current US sanctions highlight the tense regional dynamics and potential economic consequences for global markets. The situation remains delicate and requires careful observation.
