US Imposes Sanctions to Thwart Iran's Oil Trade

The Trump administration on Thursday took a significant step by imposing sanctions on 50 entities, including companies and ships from the United Arab Emirates, Hong Kong, and China. These entities were allegedly facilitating the shipment of Iranian oil and the sale of liquefied petroleum gas.

The sanctions target two dozen 'shadow fleet' vessels, a China-based crude oil terminal, and a non-state-owned Chinese refinery. According to the Treasury Department, these entities play a crucial role in enabling Iran to export petroleum products, aiding its government financially.

The move, part of President Trump's strategy, aims to limit Iran's oil exports to zero, thereby reducing Tehran's capacity for nuclear proliferation. The United Nations also reinstated sanctions over Iran's nuclear program, exacerbating the economic challenges faced by Iranian citizens.

(With inputs from agencies.)