The United States has announced sanctions targeting Iran’s energy trade in light of the missile attacks launched by the country against Israel. The US Secretary of State Antony Blinken has said that the US is taking measures to disrupt the flow of revenue that Iran uses to fund its nuclear program. The US Treasury and State Department announced the sanctions yesterday, as Israeli government considers military response against Iran amid risk of spiralling escalation.
Meanwhile, the Department further said, Treasury is sanctioning 10 entities and identifying 17 vessels as blocked property for their involvement in shipments of Iranian petroleum and petrochemical products.
US National Security Advisor Jake Sullivan said in a statement that the above measures will help deny Iran financial resources used to support its missile programs and provide support for terrorist groups that threaten the US, its allies, and partners. The sanctions will freeze the entities’ assets in the US and generally make it illegal for Americans to engage in financial transactions with them.
Tehran fired a barrage of missiles at Israel on October 1 in retaliation for the killing of Hamas chief Ismail Haniyeh in Tehran and the assassinations of Hezbollah leader Hassan Nasrallah in Beirut. Meanwhile, the US military coordinated closely with the Israeli Defence Forces to help defend Israel against this attack.
The United States expanded sanctions against Iran’s petroleum and petrochemical sectors on Friday in response to an Iranian missile attack on Israel, the administration of President Joe Biden said.
The U.S. move adds petroleum and petrochemicals to an executive order that targets key sectors of Iran’s economy with the aim of denying the government funds to support its nuclear and missile programs.
“The new designations today also include measures against the ‘Ghost Fleet’ that carries Iran’s illicit oil to buyers around the world,” Jake Sullivan, the national security adviser, said in a statement. “These measures will help further deny Iran financial resources used to support its missile programs and provide support for terrorist groups that threaten the United States, its allies, and partners.”