US Tightens Oil Sanctions on Iran and Russia to Increase Pressure on Tehran

The United States is intensifying its financial campaign against Iran, announcing new sanctions on the country’s oil industry and refusing to renew a temporary waiver for Iranian oil currently at sea. These measures are part of a broader effort to limit Tehran’s revenue as the Middle East war continues.

On Wednesday, April 15, 2026, the U.S. Treasury Department announced the tightening of sanctions targeting Iran’s oil transport infrastructure. The new measures target more than two dozen individuals, companies, and ships operating within the network of petroleum shipping magnate Mohammad Hossein Shamkhani.

U.S. Treasury Secretary Scott Bessent described the move as part of a financial pressure campaign termed Economic Fury, intended to target regime elites who profit at the expense of the Iranian people.

Treasury is moving aggressively with ‘Economic Fury’ by targeting regime elites like the Shamkhani family that attempt to profit at the expense of the Iranian people

U.S. Treasury Secretary Scott Bessent

Mohammad Hossein Shamkhani is the son of Ali Shamkhani, a security official and advisor to Iranian supreme leader Ali Khamenei. Both Mohammad Hossein and Ali Shamkhani were killed on February 28, 2026, during the first day of U.S.-Israeli attacks that marked the beginning of the Middle East war.

Strait of Hormuz and Naval Blockade

The escalation in economic pressure follows Iran’s effective shutdown of the Strait of Hormuz, a critical conduit for the global transport of oil and gas. The U.S. State Department stated that the United States is acting to limit Iran’s ability to generate revenue while Tehran attempts to hold the strait hostage.

In addition to the financial sanctions, the United States is currently engaged in a naval blockade of Iranian ports.

The Treasury Department also confirmed on Tuesday, April 14, 2026, that it would not extend a temporary sanctions waiver. This waiver had previously allowed the sale of Iranian oil that was already at sea, a measure the U.S. Had implemented to mitigate oil price spikes caused by the war.

Broader Sanctions and Russian Oil

The U.S. Is applying similar pressure to other regions, allowing a sanctions waiver on Russian oil to expire over the weekend preceding April 16, 2026.

Treasury Secretary Scott Bessent has indicated that the U.S. May impose secondary sanctions on buyers of Iranian oil, increasing the risk for international entities transporting or purchasing Iranian petroleum-related products.

The U.S. Government has already imposed sanctions on more than 30 people and vessels for their roles in the sale and transportation of Iranian oil as part of this tightening squeeze on Tehran’s trade.