U.S. Treasury Sanctions 17 Vessels in Iran's Shadow Fleet to Cut Oil Revenue

On October 8, 2026, the U.S. Treasury Department imposed fresh sanctions on Iran, targeting 17 vessels and networks involved in transporting crude oil and petrochemicals. The action, part of Operation Economic Outcast, aims to cut off Tehran's funding for military activities. The sanctions follow a U.S. blockade of Iranian ports imposed in July. Treasury Secretary Scott Bessent warned that no enabler of sanctions evasion is safe. Iran has about 20 million barrels of crude oil left outside the blockade.