Sepiolite, a fibrous clay mineral, shows superior salt tolerance compared with layered clays, making it attractive for seawater-based drilling fluids. However, the specific ions responsible for rheological degradation in complex seawater environments remain unclear. The present study used a component-resolved approach to investigate the effects of five major seawater salts: NaCl, MgCl2, Na2SO4, CaCl2, and KCl, on the microstructure and rheology of 5 wt.% sepiolite dispersions. Zeta-potential measurements, cryogenic scanning electron microscopy (Cryo-SEM), and rheological tests revealed distinct ion-specific effects. Monovalent cations, Na+ and K+, mainly compressed the electrical double layer (EDL) and preserved relatively voluminous, reversible fiber networks, resulting in modest viscosity loss. In contrast, divalent cations, Mg2+ and Ca2+, caused stronger charge neutralization, probably through a combination of EDL compression and specific cation association with sepiolite surfaces, thereby promoting side-by-side fiber aggregation into bundles. This bundling reduced the number of effectively dispersed structural units and lowered the apparent aspect ratio, leading to pronounced apparent-viscosity reductions of 40% for MgCl2 and 27% for CaCl2. Mg2+ reduced the zeta potential to a near-neutral or slightly positive value (+0.20 mV). Although MgCl2 accounted for only 23% of the ionic strength of the simplified seawater system, its strong interfacial effect was closely associated with fiber bundling and rheological deterioration. The apparent viscosity in seawater (5.0 mPa·s) was closer to that in the divalent-cation systems than to a simple average of all single-salt systems, indicating that minority divalent cations exert a disproportionate influence on rheological degradation. These findings provide mechanistic guidance for optimizing sepiolite-based drilling fluids in high-salinity environments.