US Expands Sanctions on Iran’s Petroleum and Petrochemical Sectors
The US has taken a strong stance against Iran by expanding sanctions on its petroleum and petrochemical sectors in response to the country’s attack on Israel. The Treasury Department announced this move on Friday, intensifying financial pressure on Iran and limiting its ability to earn critical energy revenues.
This action aims to undermine stability in the region and prevent Iran from supporting its nuclear program. The Treasury has sanctioned 10 entities and identified 17 vessels involved in shipments of Iranian petroleum and petrochemical products. The State Department also imposed sanctions on six entities engaged in Iranian petroleum trade.
Secretary of State Antony Blinken emphasized the importance of holding Iran accountable for its destabilizing actions. National Security Advisor Jake Sullivan highlighted measures against the “Ghost Fleet,” which transports Iran’s illicit oil worldwide.
These strong measures are a response to Iran’s retaliation against Israel and aim to deny Iran financial resources used to support missile programs and terrorist groups. The US will continue to work closely with partners and allies to address and counter Iran’s actions.