The US Imposes New Sanctions on Iran’s Oil and Petrochemical Sectors
In response to Iran’s recent retaliatory missile attacks against Israeli targets, the US Treasury Department has imposed new sanctions on Iran’s oil and petrochemical sectors. This move includes designating 10 companies and 17 vessels as blocked property for their involvement in shipments of Iranian oil and petrochemical products.
The goal of these sanctions is to intensify financial pressure on Iran, limiting its ability to earn energy revenue used to support resistance movements in the Middle East. US officials believe these measures will disrupt Iran’s military funding activities, including its development of nuclear programs and ballistic missiles.
Iran has condemned the sanctions as part of an economic war on its people, while US Secretary of the Treasury, Janet L. Yellen, stated that these actions aim to disrupt the Iranian regime’s destabilizing activities.
The sanctions were imposed in accordance with the Stop Harboring Iranian Petroleum Act, bipartisan legislation targeting foreigners involved in oil trade with Iran. This comes after Iran launched retaliatory missile attacks on Israeli military and intelligence bases in response to regime assassinations of key figures.
Overall, the US remains committed to holding Iran accountable for its activities through various tools and sanctions.