US imposes new sanctions targeting Iranian oil, petrochemical trade

The United States has announced fresh sanctions on seven entities accused of facilitating trade in Iranian oil and petrochemical products, as part of its continued effort to cut off Tehran’s revenue streams used for what Washington calls “destabilizing activities.”

The announcement was made by US Secretary of State Marco Rubio in a statement published on the official website of the Department of State, Caliber.Az reports.

“The Department of State, today, is sanctioning seven entities engaged in the trade of Iranian petroleum products and petrochemical products and is identifying two vessels as blocked property,” the statement reads.

The move comes under the authority of Executive Order 13846 and is described as part of a broader strategy to curb Iran’s energy exports.

“The President is committed to driving Iran’s illicit oil and petrochemical exports — including exports to China — to zero under his maximum pressure campaign,” the Secretary added.

According to the statement, the action targets four sellers and one buyer involved in transactions worth “hundreds of millions of dollars” in Iranian petrochemicals. In addition, a marine management company and an Iran-based cargo inspection firm were sanctioned for their roles in transporting millions of barrels of Iranian crude and refined products.

The State Department also identified two vessels managed by the sanctioned marine company as “blocked property.”

The administration reiterated its stance on Iran’s use of oil revenue to support regional militancy and proxy forces.

“So long as Iran attempts to generate oil and petrochemical revenues to fund its destabilizing activities, and support its terrorist activities and proxies, the United States will take steps to hold both Iran and all its partners engaged in sanctions evasion accountable.”

All seven sanctioned entities and the two vessels fall under the reimposed sanctions authorised by Executive Order 13846, which reinstated punitive measures previously lifted under the Iran nuclear deal. The action is also in line with National Security Presidential Memorandum 2, issued during the Trump administration.

By Vugar Khalilov