State, Treasury Departments reimposes 'maximum pressure' sanctions on Iran’s oil trade

The U.S. State and Treasury departments imposed a fresh round of what they called "maximum pressure" sanctions on Iran’s "shadowy" oil trade on Monday.

The State Department, along with the Department of the Treasury’s Office of Foreign Assets Control (OFAC), are concurrently sanctioning a total of 22 people and identified 13 vessels "as blocked property, across multiple jurisdictions, for their involvement in Iran’s oil industry," the statement said.

Bruce said those involved in the shadowy network have "shipped tens of millions of barrels of crude oil worth hundreds of millions of dollars."