Trump hits Iran's pocketbook as he dangles a carrot in Middle East speech
Print Close
By Brooke Singman
Published May 13, 2025
The Trump administration sanctioned nearly two dozen firms operating in Iran's illicit international oil trade, as President Donald Trump delivered remarks in the Middle East – tempting the Islamic Republic with a "much brighter future" should it come to a nuclear agreement with the United States.
The sanctions, announced by the Treasury Department's Office of Foreign Assets Control Tuesday, target firms that operate in Iran's oil trade.
TRUMP TARGETS IRANIAN OIL WITH SANCTIONS, INCREASING PRESSURE ON ISLAMIC REPUBLIC TO MAKE DEAL ON NUKES
Officials said the Iranian government allocates billions of dollars worth of oil annually to its armed forces to supplement budget allocations, underwriting the development of ballistic missiles and unmanned aerial vehicles, and financing regional terrorist groups.
Treasury Department officials said Iran's Armed Forces general staff and its main commercial affiliate, Sepehr Energy Jahan Nama Pars Company, continue to establish front companies and rely on buyers and facilitators to enable their sanctioned oil trade.
Sepehr Energy often carries out its oil shipments through a series of "deals" between multiple front companies that it owns or controls, according to the Treasury Department, creating the "illusion of non-sanctionable trade between separate entities."
"Many of the entities involved in Sepehr Energy's oil shipments are part of an elaborate system of oil smuggling and money laundering, directly controlled by or acting on behalf of Sepehr Energy," the Treasury Department said, adding that it also controls Hong Kong-based front companies and uses them to "broker and receive shipments of Iranian oil delivered to independent so-called teapot refineries in China."
4TH ROUND OF US-IRAN TALKS ENDS AS TRUMP SET TO EMBARK ON HISTORIC MIDDLE EAST TOUR
The sanctions came shortly after Trump delivered a speech in Riyadh, Saudia Arabia, urging Iran to take a "new and a better path." The Trump administration is in talks with Iran for a new nuclear deal.
The president, during his speech, though, warned of "massive maximum pressure" if Iran does not come to an agreement.
"As I have shown repeatedly, I am willing to end past conflicts and forge new partnerships for a better and more stable world, even if our differences may be profound," Trump said. "If Iran's leadership rejects this olive branch... we will have no choice but to inflict massive maximum pressure, drive Iranian oil exports to zero."
VANCE PREVIEWS US-IRAN NUCLEAR TALKS, SAYS TRUMP 'OPEN' TO SITTING DOWN WITH RUSSIANS, CHINESE IN FUTURE
"Iran can have a much brighter future, but we will never allow them to threaten America and our allies with terrorism or a nuclear attack," Trump said.
Trump had announced a 60-day time frame to reach an agreement with Iran over its illegal atomic weapons program. The first U.S. negotiating session with Iran commenced April 12.
Trump's special envoy Steve Witkoff met with Iranian officials for a fourth round of nuclear talks over the weekend.
The nuclear talks were "difficult but useful," Iranian Foreign Ministry spokesperson Esmail Baghaei said. A U.S. official, speaking on condition of anonymity to discuss the closed-door negotiations, offered more, describing the talks as being both indirect and direct, The Associated Press reported.
An "agreement was reached to move forward with the talks to continue working through technical elements," the U.S. official said . "We are encouraged by today's outcome and look forward to our next meeting, which will happen in the near future."
CLICK HERE TO GET THE FOX NEWS APP
The Trump administration has said the flawed 2015 Obama-era Joint Comprehensive Plan of Action (JCPOA), also known as the Iran nuclear deal, did not prevent Iran from building an atomic bomb.
Before leaving for his trip to the Middle East, Trump reiterated his stance on Iran's nuclear goals.
"You can't have a nuclear weapon, but I think that they are talking intelligently," Trump said. "We're in the midst of talking to them, and they're right now acting very intelligent. We want Iran to be wealthy and wonderful and happy and great, but they can't have… nuclear weapons. Very simple. So I think they understand that."
A day before the start of talks, Iranian Supreme Leader Ali Khamenei welcomed chants of "Death to America" in Iran's capital, Tehran.
"Your judgment is right," Khamenei told a crowd of supporters who called for the destruction of the U.S.
The Associated Press contributed to this report. Print Close
URL
https://www.foxnews.com/politics/trump-hits-irans-pocketbook-he-dangles-carrot-mideast-speech
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Foreign energy companies continuing normal operations in Iraq, official says
BAGHDAD (Reuters) -Foreign energy firms continue operating normally in Iraq, a senior Iraqi official told Reuters on Thursday, after U.S. President Trump said U.S. personnel were being moved out of the Middle East because "it could be a dangerous place". The Iraqi oil ministry did not receive any notification from operators regarding staff reductions, added the official, who oversees operations in southern oilfields. On Wednesday, sources told Reuters that the U.S. was preparing an evacuation of its Iraqi embassy due to heightened security risks in the region.
Yahoo
19 minutes ago
- Yahoo
Zelenskyy: Putin exploits peace talks to avoid sanctions
Ukrainian President Volodymyr Zelenskyy has stated that the Russian leader Vladimir Putin is using the topic of talks with Ukraine to avoid tougher sanctions and believes that "Russia is lying" to US President Donald Trump. Source: Zelenskyy in an interview with German tabloid Bild Details: Zelenskyy noted that it is important for Moscow "to show Trump that there is a diplomatic bridge between Ukraine and Russia". "So that sanctions are not imposed against Russia" while talks are ongoing, he added. Quote from Zelenskyy: "Because Putin could always say: 'But we are talking to each other! There will be no more talks if sanctions are imposed.'" Details: Zelenskyy is convinced that "Putin does not want peace". However, in his opinion, the Russians are also pursuing another goal. They want "dialogue without Europeans and without Americans" in order to isolate Ukraine. Quote from Zelenskyy: "A prolonged war without support from our partners would be the perfect scenario for Putin. He cannot withstand a long war with partners and sanctions." Details: Zelenskyy also believes that Trump "sees Putin for who he really is". Quote from Zelenskyy: "President Trump sees that the Russian side is not being fully open and honest about the war. I think Russia is simply lying to Trump." Details: Zelenskyy said he will take Trump's criticism of him "in my stride", if it brings "an end to the war" closer. Quote from Zelenskyy: "In my opinion, Putin understands nothing but strength. And the US has that strength. And I really hope that the US sees and understands this." Details: "Trump must impose sanctions so that Putin immediately says: 'Let's talk about ending the war.' There is no other way," Zelenskyy added. On the topic of sanctions, he believes they were introduced too slowly. Quote from Zelenskyy: "This has given Putin the opportunity to adapt." "Putin feels that his economy is now suffering. But he wants to buy more time before tough sanctions are imposed, because he can hold on a little longer. That is exactly why tough sanctions need to be introduced now." Details: Zelenskyy believes that "the more support there is, the fewer Ukrainians will die". Quote from Zelenskyy: "People are not firewood that we throw on the fire. We do not treat our people the way the Russians do." Support Ukrainska Pravda on Patreon!
Yahoo
19 minutes ago
- Yahoo
Oman foreign minister says there will be sixth round of negotiations between Iran and US on Sunday
DUBAI, United Arab Emirates (AP) — Iran and the United States will hold a sixth round of negotiations over Tehran's rapidly advancing nuclear program this Sunday in Oman, the sultanate's foreign minister said Thursday, as regional tensions have spiked in recent days. The announcement by Oman's Foreign Minister Badr al-Busaidi comes as the U.S. is drawing down the presence of staffers who are not deemed essential to operations in the Middle East and their loved ones due to the potential for regional unrest. Meanwhile, there have been warnings that ships could be targeted in regional waters over the tensions. Al-Busaidi made the announcement on the social platform X. 'I am pleased to confirm the 6th round of Iran US talks will be held in Muscat this Sunday the 15th,' he wrote. Iran for days had been saying there would be talks, but Oman, which is serving as the mediator, had not confirmed them until now. There was no immediate comment from the U.S. Reaching a deal is one of the several diplomatic priorities being juggled by U.S. President Donald Trump and his trusted friend and Middle East envoy Steve Witkoff. An accord could see the U.S. lift some of its crushing economic sanctions on Iran in exchange for it drastically limiting or ending its enrichment of uranium. But a failure to get a deal could see tensions further spike in a Middle East on edge over the Israel-Hamas war in the Gaza Strip. Iran's economy, long ailing, could enter a free fall that could worsen the simmering unrest at home. Israel or the U.S. might carry out long-threatened airstrikes targeting Iranian nuclear facilities. And Tehran may decide to fully end its cooperation with the United Nations' nuclear watchdog and rush toward a bomb. Iran and the U.S. have held previous talks in Muscat and Rome.
