WANA (Aug 07) – The U.S. Department of the Treasury announced new sanctions on Friday targeting companies, currency exchanges, and financial intermediaries associated with Iran.

 

According to reports, U.S. Treasury Secretary Scott Bessent stated that oil purchases by independent Chinese refineries, known as “teapots,” serve as a crucial economic lifeline for Tehran.

 

In a separate statement, U.S. State Department Spokesperson Tommy Pigott said the measures aim to sever Iran’s financial lifelines.

 

Pigott added that Tehran relies on these covert networks to access oil revenues and circumvent sanctions designed to restrict its activities.