The US issued new sanctions targeting Iran’s oil exports, including measures against a Chinese “teapot refinery,” as the Trump administration seeks to ramp up pressure on Tehran

Chinese and Indian refiners will source more oil from the Middle East, Africa and the Americas, boosting prices and freight costs, as new US sanctions on Russian producers and ships curb supplies to Moscow’s top customers

The United States announced widespread sanctions against Russia’s energy sector, designating more than 180 ships and two major oil companies just days before outgoing President Joe Biden leaves office

Russia leapfrogged Saudi Arabia to become China’s top crude oil supplier in 2023, as the world’s biggest crude importer defied Western sanctions to purchase vast quantities of discounted oil

Iran is determined to increase its oil exports despite sanctions imposed by the United States on Tehran’s crude sales, Iranian Oil Minister Javad Owji said

The United States is considering cracking down on Iranian oil sales to China as it braces for the possibility that Tehran may not return to nuclear talks or may adopt a harder line whenever it does

Iran has opened its first oil export terminal that does not require tankers to pass through the Strait of Hormuz, a chokepoint patrolled by warships of its arch foe the US, President Hassan Rouhani announced

Iran said the United States had agreed to remove all sanctions on Iran’s oil and shipping, although Germany cautioned that major issues remained at talks between Tehran and world powers to revive a 2015 nuclear deal

An increase in Iranian oil output will boost the country’s political power, Oil Minister Bijan Zanganeh said as Tehran and world powers pursue talks to lift U.S. sanctions that have stopped it from pumping anywhere near capacity since 2018

The United States imposed fresh Iran-related sanctions targeting the Islamic Republic’s oil sector, including the Iranian Ministry of Petroleum, in Washington’s latest move to increase pressure on Tehran