Iranian and US negotiators are set to meet in Swiss capital as Washington amasses military assets in Middle East.<\/p>\n
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The United States has issued a new wave of sanctions against Iran, targeting ships that it said are selling Iranian oil to help fund the country\u2019s ballistic missile programme.<\/p>\n
The penalties on Wednesday come a day before US and Iranian negotiators are set to meet for a third round of nuclear talks this year amid a massive military build-up by Washington in the region.<\/p>\n
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As President Donald Trump continues to issue threats<\/a> against Iran, Washington said it is also ramping up economic pressure against the country.<\/p>\n \u201cIran exploits financial systems to sell illicit oil, launder the proceeds, procure components for its nuclear and conventional weapons programs, and support its terrorist proxies,\u201d Secretary of the Treasury Scott Bessent said in a statement.<\/p>\n \u201cUnder President Trump\u2019s strong leadership, Treasury will continue to put maximum pressure on Iran to target the regime\u2019s weapons capabilities and support for terrorism, which it has prioritised over the lives of the Iranian people.\u201d<\/p>\n While the US calls the Iranian oil trade \u201cillicit\u201d, Iran, which is selling its own petroleum products, describes the crackdown on its energy sector as piracy.<\/p>\n The US has been intensifying sanctions against Iran as it amasses military assets<\/a> \u2013 including two aircraft carriers and large fleets of fighter jets \u2013 in the region in apparent preparation for war.<\/p>\n Wednesday\u2019s penalties targeted 12 vessels, as well as several companies and individuals that the US said are involved in Iran\u2019s oil sales and weapons acquisition.<\/p>\n The new sanctions will freeze targeted assets of the designated firms and individuals in the US and make it mostly illegal for American citizens to engage in financial transactions with them.<\/p>\n Washington has been piling such sanctions on the Iranian economy since Trump nixed the multilateral nuclear deal with Tehran in 2018 during his first term.<\/p>\n That agreement, known as the Joint Comprehensive Plan of Action (JCPOA), saw Iran scale back its nuclear programme in exchange for the release of international sanctions.<\/p>\n After returning to the White House in 2025, Trump reignited his economic maximum pressure campaign against Tehran with the goal of choking off Iran\u2019s oil exports.<\/p>\n Still, the two countries have been engaging in diplomacy to avert the looming conflict.<\/p>\n On Wednesday, Iran\u2019s Foreign Minister Abbas Araghchi, who is leading the diplomats representing Tehran at the talks in Geneva, said it is possible to \u201cfair and balanced\u201d agreement with Washington.<\/p>\n He stressed that Iran \u2013 which denies seeking a nuclear bomb \u2013 is ready to answer any concerns or questions about its uranium enrichment programme<\/a>.<\/p>\n \u201cBut we are not ready to give up our right to peaceful use of nuclear technology,\u201d Araghchi told India Today in an interview.<\/p>\n