US expands Iran sanctions to maritime and digital assets as Tehran blacklists 45 Gulf tankers

Financial measures and dollar access

The United States has widened the categories of Iranian activities subject to sanctions, targeting digital assets, technology, and maritime shipping. US Treasury Secretary Scott Bessent announced the expansion following a Sunday op-ed describing the move as an economic offensive against entities that facilitate Iranian trade. Bessent warned that foreign firms and financial institutions aiding Tehran would face removal from the US dollar clearing system.

To be very clear: any entity that facilitates money laundering on behalf of Iran will be cut off from the US dollar system. The clock has just started running. If they facilitate transactions and are part of the ecosystem that turns Iranian oil into money and repression, they will become targets.

The measures follow discussions between President Donald Trump and foreign leaders regarding economic cooperation against Iran. While secondary sanctions have not yet been placed on Chinese financial institutions, Bessent stated that no foreign banks stand above US enforcement.

Tanker blacklist in the Strait of Hormuz

Tehran responded to American economic pressure by expanding restrictions on maritime traffic through the Strait of Hormuz, a corridor that handled approximately 20% of global crude oil and liquefied natural gas before the conflict began six months ago. The Persian Gulf Strait Authority, a body established by Iran, blacklisted 45 commercial tankers on Sunday evening for allegedly violating transit regulations. The list includes very large crude carriers, liquefied natural gas carriers, liquefied petroleum gas tankers, and clean petroleum product vessels.

Affected ships include tankers owned by UAE-based ADNOC Logistics and Shipping, its subsidiary Navig8 Tankers, and Saudi Arabia's national shipping carrier Bahri. Iranian authorities warned that blacklisted vessels risk fines, detention, and cargo confiscation. Officials added that ships conducting ship-to-ship transfers with these vessels would face identical penalties.

Domestic economic pressure in Iran

Six months of wartime maritime disruptions and sanctions have accelerated economic strain inside Iran. Iranian President Masoud Pezeshkian acknowledged these difficulties, attributing domestic shortages and market turbulence to decades of US and international sanctions. On 22 July, Iran's inflation rate stood at 66%, compared to 46% recorded in February. The Iranian rial also declined against the US dollar, trading at 1.88 million rials per dollar compared to 1.65 million rials prior to the war.

Despite these strains, Iran's defense ministry maintained that the country is prepared for a prolonged confrontation. Meanwhile, the United Arab Emirates moved to suspend all trade exchanges and financial transactions with Iran until further notice.

Regional mediation and diplomatic tracks

Diplomatic efforts to de-escalate the dispute continued on Monday as Pakistani army chief Field Marshal Asim Munir arrived in Tehran for meetings with senior Iranian officials and figures close to Iran's Supreme Leader. Pakistan has sought a mediating role between Washington and Tehran, following the cessation of direct bilateral negotiations between the US and Iran in June.

In parallel, Oman is conducting discussions regarding maritime transit through the Strait of Hormuz, with the Omani foreign minister scheduled to arrive in Tehran on Tuesday. On the energy front, US Energy Secretary Chris Wright stated that seven-day average crude shipments through the strait still exceeded 8 million barrels per day. Maritime security tensions continued simultaneously, with a projectile hitting a tanker west of the Saudi port of Yanbu in the Red Sea on Monday.