In a decisive move to counter Tehran’s attack on Israel, the United States imposed new sanctions on Iran’s oil and petrochemical sectors on Friday. The measures target dozens of companies and firms, including those involved in Iran’s clandestine “ghost fleet” of ships.
Targeting Iran’s Energy Revenues
The US Treasury Department designated 10 companies and 17 vessels as “blocked property” for their role in circumventing existing sanctions and facilitating shipments of Iranian petroleum and petrochemical products. Six additional firms and six ships face sanctions for engaging in significant transactions related to Iranian oil.
Global Reach of Sanctions
The sanctions encompass entities in the United Arab Emirates, Liberia, Hong Kong, Suriname, India, Malaysia, and Hong Kong, demonstrating the international scope of Iran’s illicit activities.
US Treasury Secretary Janet Yellen’s Statement
“Today’s sanctions target Iranian efforts to channel revenues from its energy industry to finance deadly and disruptive activity, including development of its nuclear program, ballistic missiles, and unmanned aerial vehicles.” Yellen emphasized that the United States “will not hesitate to take further action to hold Iran accountable.”
US Response to Iran’s Attack
The sanctions come in response to Iran’s October 1 attack on Israel, which involved firing approximately 200 ballistic missiles after the killing of Tehran-backed terrorist leaders and a general from Iran’s Revolutionary Guards. Israel has vowed a “deadly, precise, and surprising” response to Iran’s second direct attack this year.
International Coordination
US President Joe Biden consulted with allies and partners before announcing the sanctions, according to National Security Adviser Jake Sullivan. “These measures will further deny Iran financial resources used to support its missile programs and terrorist groups that threaten the United States, its allies, and partners.”
US Secretary of State Antony Blinken’s Statement
“We made clear after the October 1 attack that Tehran would face consequences. Today, we disrupt the flow of revenue the Iranian regime uses to fund its nuclear program, missile development, support terrorist proxies, and perpetuate Middle East conflict.”