25.02.2025 12:06
The U.S. Department of the Treasury has announced new sanctions targeting Iran's oil trade and provided details about them. More than 30 individuals, ships, and entities are being sanctioned, including international oil intermediaries as well as Iranian officials among those targeted.
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The U.S. Treasury Department announced new sanctions targeting Iran's oil trade. The Donald Trump administration in the U.S. announced new sanctions against Iran. In a statement made by the Treasury Department, it was noted that the Office of Foreign Assets Control (OFAC) and the U.S. Department of State imposed sanctions on more than 30 individuals, ships, and companies involved in the sale and transportation of Iranian oil products.
INTERMEDIARIES ALSO UNDER SANCTIONS
Among those sanctioned are oil intermediaries in the United Arab Emirates and Hong Kong, tanker operators and executives in India and China, the head of the National Iranian Oil Company, and the Iranian Oil Terminals Company. The ministry's statement noted that the sanctioned vessels had transported tens of millions of barrels of crude oil worth hundreds of millions of dollars. In a statement made by the Department of State, it was mentioned that sanctions were imposed on 8 entities engaged in oil and petrochemical trade, and 8 ships were added to the list of blocked goods.
"ALL AVAILABLE MEANS WILL BE USED"
U.S. Treasury Secretary Scott Bessent stated, "Iran relies on a shadow fleet of ships, transportation, and a broker network to sell oil and finance destabilizing activities. The United States will use all available means to target the components of Iran's oil supply chain. Anyone doing business with Iranian oil will be exposed to significant sanction risks." U.S. President Donald Trump had indicated that he would reinstate the "maximum pressure" policy against Iran that he implemented during his first presidential term. Trump had accused former President Joe Biden of not adequately enforcing oil sanctions against Iran.
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