The U.S. government imposed additional sanctions on Middle Eastern corporations and individuals that supported Iraq's Iran-backed Shiite militia and the Lebanese armed faction Hezbollah.
On the 10th (local time), the U.S. Treasury Department said it designated corporations and individuals operating in Türkiye, the United Arab Emirates (UAE), Iraq and Lebanon as Specially Designated Nationals (SDN). They are known to have supported or been involved in transactions with Iraq's Kataib Hezbollah and Lebanon's Hezbollah, which have close ties to Iran's Islamic Revolutionary Guard Corps (IRGC).
The measure is part of "secondary sanctions," which penalize third parties that transacted with Iran or Iran-backed groups even if they did not deal directly with Iran.
The Treasury Department's Office of Foreign Assets Control (OFAC) said it is not approving license applications to transact with Iran except in exceptional cases, and that it is currently rejecting most Iran-related specific license applications under review immediately.
Scott Bessent, the U.S. treasury secretary, said in a statement that the "economic bullying campaign" targets those who continue to side with Iran's failing regime, adding, "Whether they fund or launder for terror, we will find those who help Iran evade sanctions, cut them off from the U.S. financial system, and dismantle the networks that keep the Iranian regime on life support."
Separately, the Treasury said it imposed a $1.43 million civil settlement on a U.S. citizen for 39 violations of sanctions against Iran.
The United States is also pressuring Iran's crude oil exports, its key funding source, by combining sanctions with a maritime blockade. A U.S. official told Reuters that the so-called "economic bullying campaign" is dealing a major blow to Iran's economy, and that the maritime blockade has slashed Iran's crude shipments from 1.8 million barrels per day before the war to 200,000 barrels per day over the past 30 days.
Still, some say the additional sanctions will have limited effect. Brett Erickson of consulting firm Obsidian Risk Advisors said, "It does not change the situation at all," adding, "It targets Hezbollah, but excludes the Yemeni rebels who are causing major disruption in the energy market."