U.S. Treasury Imposes Sanctions on Iran's Military Oil Sales and Warns Oman Over Strait of Hormuz

On May 29, 2026, U.S. Treasury Secretary Scott Bessent announced sanctions targeting Iran’s military oil sales, a move aimed at curbing Iran’s ability to fund its military operations. The sanctions specifically target entities involved in the sale of oil to Iran’s armed forces. Separately, the U.S. warned Oman, a key regional player, not to engage in facilitating tolls for the Strait of Hormuz, a critical maritime chokepoint. The warning underscores U.S. concerns over the strategic implications of such activities on global oil flows and regional security.