US Treasury Department to impose new sanctions related to Iran; sanctioning Iraqi Deputy Oil Minister over Iranian oil sales

The US Treasury's decision to sanction Iraq's deputy oil minister highlights ongoing tensions regarding Iranian oil sales and raises concerns about the stability of the oil supply in the region.

Newsquawk StaffPublished 7 May 2026, 14:38 UTCOn the live feed at 14:18 UTC — 5 more headlines followed before this page went public

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US Treasury Department to impose new sanctions related to Iran; sanctioning Iraqi Deputy Oil Minister over Iranian oil sales

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The US Treasury plans to sanction Iraq’s deputy oil minister, Ali Maarij Al-Bahadly, accusing him of helping facilitate Iranian oil sales in violation of sanctions.

Context

This sanctions move could have implications for WTI prices and suggests a potential escalation in energy market volatility, as such actions can lead to tighter supplies and affect geopolitical risk perception.

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