Trump team plans sanctions on Iran's oil industry - Bloomberg

Advisers to US president-elect Donald Trump are crafting a wide-ranging sanctions strategy to squeeze Iran, Bloomberg reported citing people familiar with the matter.

Trump’s key advisers plan to return to a maximum pressure strategy targeting Tehran, the sources said, starting with a sanctions package targeting major players in the oil industry due as soon as February.

The International Energy Agency (IEA) on Wednesday said the latest US sanctions targeting Russian and Iranian oil could eventually dent their export volumes.

New US sanctions on Iran and Russia announced last Friday target entities responsible for over one-third of Russian and Iranian crude exports in 2024.