Treasury: US sanctions target Iranian LPG magnate, Treasury.

Treasury Department: The United States announced new sanctions against Iranian liquefied gas magnate Seyed Asadoollah Emamjomeh, and his corporate networks, on Tuesday, amid ongoing discussions with Tehran about its nuclear program.

Treasury released a statement saying that Emamjomeh’s network was responsible for shipping crude oil and LPG worth hundreds of millions to foreign markets.

It said that both products were a major revenue source for Iran and helped to fund its nuclear weapons program and advanced conventional weaponry. They also funded regional proxy groups such as Hezbollah and Yemen's Houthis, and the Palestinian Hamas.

Treasury Secretary Scott Bessent stated that "Emamjomeh, and his network, sought to export thousands shipments of LPG - including from the United States - to evade U.S. sanction and generate revenue for Iran."

Iran's Foreign Minister said that the United States and Iran agreed to start drafting a framework for any potential nuclear deal on Saturday, following talks described by a U.S. government official as "very positive progress."

On Saturday, top negotiators will meet in Oman.

The United States imposed sanctions against Iran while talks were in progress. (Reporting and editing by Rami AYYUB; Doina CHIACHU)

(source: Reuters)