US announces sanctions targeting Iran’s petroleum, petrochemical sectors over Israel attack

The US Secretary of State Antony Blinken said that the US is taking measures to disrupt the flow of revenue that the Iranian regime uses to fund its nuclear program and support terrorist proxies.

Washington: The US has announced new sanctions targeting Iran’s petroleum and petrochemical sectors in response to its October 1 attack on Israel. In addition, the US is also sanctioning 16 entities engaged in the Iranian petroleum trade and blocking 23 vessels.

In a post on X, the US State Department spokesperson Matthew Miller stated, “We are announcing broad new sanctions on Iran’s petroleum and petrochemical sectors to further deny the Iranian regime the resources it may use to fund its destabilizing activities. We are also sanctioning 16 entities engaged in Iranian petroleum trade and blocking 23 vessels.”

The US Secretary of State Antony Blinken said that the US is taking measures to disrupt the flow of revenue that the Iranian regime uses to fund its nuclear program and support terrorist proxies.

In a statement, Blinken stated, “In the aftermath of Iran’s unprecedented October 1 attack against Israel, the United States made clear that we would impose consequences on Iran for its actions. To that end, we are taking steps today to disrupt the flow of revenue the Iranian regime uses to fund its nuclear program and missile development, support terrorist proxies and partners, and perpetuate conflict throughout the Middle East.”

Blinken said that the US Department of State has imposed sanctions on six entities engaged in Iranian petroleum trade and identified six vessels as blocked property. Concurrently, the Department of the Treasury, in consultation with the Department of State, is issuing a determination that will lead to the imposition of sanctions against any person determined to operate in the petroleum or petrochemical sectors of the Iranian economy.