The United States imposed sanctions on Thursday on Iran's Oil Minister Mohsen Paknejad and some Hong Kong-flagged vessels that are part of a shadow fleet that helps disguise Iranian oil shipments, the Treasury Department said.

The Trump administration is imposing sanctions on Iran’s oil minister, as well as targeting more companies and vessels linked to the “shadow fleet” that Tehran uses to circumvent sanctions.

The United States imposed sanctions on Thursday on Iran's oil minister Mohsen Paknejad and some Hong Kong-flagged vessels, according to the Treasury Department. (Reporting by Doina Chiacu; Editing by Brendan O'Brien) Copyright 2025 Thomson Reuters.

While Russia has publicly encouraged the use of crypto and last summer passed a law to allow digital currency payments in international trade, its use in the country’s oil trade has not previously been reported.

India's Russian oil imports recovered in March, returning to near usual levels after a 3-month decline, as non-sanctioned vessels were delivering cargoes, while some supplies were diverted from Turkey,