US Imposes Fresh Iran Oil Sanctions Amid Fragile Gulf Ceasefire Talks | NewsX World

Added: 2026-05-31

[00:00:00]We have some news with regards to fresh sanctions on Iran imposed by the United States. The United States has imposed fresh sanctions targeting Iran's military linked oil trade even as Washington and Tehran moved towards extending a tentative ceasefire and easing shipping restrictions in the Strait of Hormuz. The US Treasury Department announced sanctions on eight vessels accused of transporting Iranian crude oil and petroleum products to international markets. Several companies based in Hong Kong and Dubai were also targeted for allegedly helping facilitate oil sales tied to Iran Iran's armed forces. US Treasury Secretary Scott Bassette said Washington would not allow Tehran to increase oil revenues for rebuilding military capabilities.

[00:00:52]The sanctions come at a sensitive moment with global markets closely watching negotiations linked to maritime security in the Gulf. Despite the renewed sanctions, oil prices slipped slightly amid hopes of reduced tensions and improved shipping access. Brent crude hovered around $93 a barrel while West Texas Intermediate traded near $88. Now we have joining us once again Peter Baum, International Affairs Editor, joining us live from London and The Weekly Blitz. Mr. Baum, with regards to these sanctions, it essentially stops Iran from profiting in the way that they have been for a very long time. Do you believe that this will delay the memorandum of understanding that's supposedly in place right now? What are your thoughts?

[00:01:39]>> Um actually, I think it has every opportunity of bringing it back.

[00:01:44]Um as uh this fits in nice I mean for um for your viewers and listeners, they must be aware that in the last month uh the um chokehold that the Trump administration uh is putting on Iran is getting tighter and tighter. Let's just think what's happened, Roshan. In the last month, we've seen um, American oil companies take complete control of Venezuelan oil output.

[00:02:15]>> Mhm.

[00:02:15]>> We've seen the United Arab Emirates leave OPEC.

[00:02:21]We've seen new oil pipelines which will eventually create the conditions that whereas at the moment 20% of oil export is going through the Straits of Hormuz. With the new Fujairah pipelines, that will only be about um, 10 to 15% in the in the coming months.

[00:02:43]And we've also seen the stranglehold of the that the Americans have on the Straits of Hormuz which are not allowing Iranian oil exports and therefore not allowing any revenue to get into Iran.

[00:03:01]>> Mhm.

[00:03:02]>> Um, all this tied together especially when Iran themselves are facing a currency crisis, a water crisis, and dire economic conditions will further exacerbate the economic pressure that Trump is putting on the Iranians who are being robust in their defense, but I fear that they will not be able to hold out much longer especially with this new round of sanctions. So, to answer your question, I think it has every possibility. Whereas the Iranians like to play for time, like to draw things out, there's only so much that the population can withstand. Don't forget, it was because of the dire economic conditions that led to the riots in the first place in Iran. And I think this is going to increase in the in the days ahead. And I think Trump knows this, his cabinet knows this, and I think the sanctions are just another nail in the economic coffin that Iran is unfortunately suffering.

[00:04:12]>> Right, Mr. Brom. Thanks so much for joining us. We'll speak soon as we have more developments. We also have Peter Cardillo, chief economist from Spartan Capitals, joining us live from New York to tell us more. Mr. Cardillo, thanks so much for joining us. Now, with regards to this latest development as far as fresh sanctions are concerned on Iran, what's your take on how this will essentially affect their economy? And will Iran be able to bounce back? What's your take?

[00:04:43]We essentially do have a guest joining us.

[00:04:47]Now?

[00:04:50]>> Excuse me?

[00:04:51]>> Ah, yes, Mr. Cardillo. Yes, I believe you were unmuted. Are you with us?

[00:04:56]>> I'm here, yeah.

[00:04:57]>> Fantastic. Did you hear my question, sir?

[00:05:00]>> Yes, I did.

[00:05:01]Okay, in response to your question, I think your previous guest hit the nail on the head. And you know, Iranians are in dire strait. Their economy is in shambles. And the Trump administration is going to do everything possible to put pressure in order to have them sign a a a peace deal. And a deal that will more or less be in line with what Trump and his administration wants. Now, of course, there'll also be some concessions in the sense that um the Iranians are going to look to save face such as uh uh the Americans. I I think you know um Trump uh um didn't expect this war to go on what for now 3 months entering the fourth month.

[00:06:02]So, I think somewhere along the line uh concessions will be made. And uh it's a question of really putting them with their backs behind the wall to the point that uh um they're going to have to just uh bow down and uh uh and and and and agree to some uh to some uh peace deal with the United States. But, the big the key is of course is the uranium deposits.

[00:06:34]>> Mhm.

[00:06:36]Right. Now, we'd also like to bring into the discussion now John Rossomondo, geopolitical and national security strategist, joining us live from Washington D.C. to tell us more. Mr. Rossomondo, what's your take on how these sanctions will affect Iran and the memorandum of understanding which is supposedly happening right now as we speak with a deal that should be reached anytime soon. Tell us more.

[00:07:04]>> Well, from what I'm seeing uh you know, the the administration misunderstands the Iranian modus operandi which is all about you know, their about religious uh you know, opposition to the United States and uh about bringing about maximum chaos. They're not going to uh I mean, they say that they want uh 20 some billion dollars in uh frozen assets and uh they want uh sanctions relief. Uh the president due to uh domestic pressure is saying he's not going to give them that. He's not going to give them, you know, an Obama deal. So, I just see you know, a lot of the the posturing in the media as you know, stuff without substance.

[00:07:52]>> Mhm.

[00:07:53]Right. Mr. Rossemondo and Mr. Cardillo, please stay with us. We'll be right back with you both. Next up, we have some news