The U.S. government has imposed sanctions on 50 individuals and entities from Iran, as well as over 50 oil tankers controlled by the country.

Axar.az reports that the U.S. Department of the Treasury stated that this is the largest such sanctions package since 2018.

Scott Bessent, the head of the department, said: “The more than 115 sanctions imposed today are the largest since the Trump administration launched its maximum pressure campaign on Iran. At a time when Tehran threatens U.S. security, these measures target the regime’s profit-generating elite and reaffirm America’s leadership.”

The statement noted that the sanctioned individuals, companies, and vessels are part of a global network involved in Iranian oil trade, with links to 20 countries and entities including Belgium, the United Kingdom, Hong Kong, India, Italy, Cyprus, the Marshall Islands, the UAE, Panama, Romania, Singapore, Turkiye, France, and Switzerland.