US sanctions eight vessels over Iranian military oil sales
The Treasury Department sanctioned eight vessels and fifteen entities for transporting Iranian crude oil to global markets. This move comes as Washington and Tehran reach a tentative agreement to extend their ceasefire and reopen the Strait of Hormuz.
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The United States sanctioned eight vessels and 15 entities involved in Iran's military oil trade on May 28. The move follows a tentative agreement to lift shipping restrictions in the Strait of Hormuz. The strait handles approximately 20% of global oil and gas supply.
