The administration of US President Donald Trump has warned that any company or individual involved in Iran’s oil trade or energy business could face American sanctions.

The warning came as Washington and Tehran continue talks to extend the current ceasefire and revive negotiations aimed at ending the US-Israeli conflict with Iran.

“Any entity cooperating with Iran’s illicit oil trade or trading Iranian energy products faces the risk of exposure to US sanctions,” the Trump administration said in a statement.

“The United States will not hesitate to take action against anyone, anywhere, funding the Iranian government’s ability to attack its neighbours and its own people,” it added.

US And Iran Continue Ceasefire Talks

The United States and Iran are currently discussing a proposal to extend the ceasefire by 60 days through a memorandum of understanding (MoU). According to the White House, both sides have agreed on the basic framework of the deal, although President Donald Trump has not yet officially approved it. Iran, however, said the agreement has not been finalised yet.

Iran’s semi-official Tasnim news agency reported that Tehran will announce the details publicly once both sides complete the negotiations.

US Targets Iran’s Oil Network

The Trump administration said it has launched “coordinated action” to cut off Iran’s oil revenues. “The United States is taking coordinated action to sever the Iranian regime’s access to the revenue streams that fuel its regional aggression and global terrorism,” the statement said. The US State Department imposed sanctions on several companies, individuals, and ships linked to Iran’s oil and petrochemical trade.

“The Department of State is sanctioning numerous entities, individuals, and vessels that form the backbone of Iran’s illicit oil economy, directly targeting the financial lifelines of the Islamic Revolutionary Guard Corps (IRGC) and Iran’s military apparatus,” the statement added. According to the US, authorities blacklisted eight entities and eight ships involved in transporting Iranian oil and petrochemical products.

The government also sanctioned three companies and one individual linked to the sale of Iranian-origin petrochemical goods.

Treasury Sanctions Hong Kong-Based Network

The US Treasury Department also announced sanctions against a major oil trade network operating through companies based in Hong Kong.

“The department of the treasury is sanctioning key players in an oil sales network that has moved tens of millions of barrels of Iranian oil worth billions of dollars,” the statement said.

US officials alleged that the network helped store, transport, and sell Iranian oil and generated funds for the IRGC and other military-linked organisations.

US Conducts Fresh Strikes On Iran

The sanctions came days after the United States carried out fresh military strikes inside Iran. US Central Command (Centcom) said American forces launched “self-defence” attacks targeting Iranian missile sites and boats allegedly trying to place mines near the Strait of Hormuz.

The strikes reportedly targeted areas near Bandar Abbas, a major Iranian port city. Iran condemned the attacks and accused the United States of violating the ceasefire agreement.

Later, Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed that it shot down a US drone and fired at an American fighter jet and another drone that entered Iranian airspace. The IRGC also said Iran has the “legitimate and definite” right to respond to any ceasefire violations by the US.

Conflict Continues To Affect Region

The US-Israeli conflict with Iran began after the United States and Israel launched attacks on Iran on February 28. The strikes reportedly killed Iran’s Supreme Leader and several senior officials. Iran later carried out retaliatory attacks on Israel and US military bases in the Gulf region. Tehran also effectively shut down the Strait of Hormuz for a period, disrupting global shipping routes and pushing oil prices sharply higher.

Although a ceasefire has mostly remained in place since April 8, tensions continue across the Gulf region. Reports suggest the proposed MoU includes extending the ceasefire, reopening the Strait of Hormuz, and continuing negotiations over Iran’s nuclear programme, which remains one of the biggest unresolved issues between Washington and Tehran.