The U.S. State and Treasury departments imposed a new wave of sanctions on Iran’s petroleum and petrochemical industry on Monday, targeting more than 30 individuals, entities, and vessels involved in the illicit trade of Iranian oil.
The move, implementing part of President Donald Trump’s “Imposing Maximum Pressure on … Iran” executive order issued earlier this month, aims to disrupt Iran’s ability to fund terrorist organizations and destabilizing activities across the Middle East.
“Iran continues to rely on a shadowy network of vessels, shippers, and brokers to facilitate its oil sales and fund its destabilizing activities,” Treasury Secretary Scott Bessent said in a statement. “The United States will use all our available tools to target all aspects of Iran’s oil supply chain, and anyone who deals in Iranian oil exposes themselves to significant sanctions risk.”…