ERBIL, Kurdistan Region - The United States Department of the Treasury on Monday imposed new sanctions on over 30 individuals and vessels for their “involvement” in importing Iranian petroleum-related products.
According to the US Treasury, its Office of Foreign Assets Control (OFAC) and the US State Department targeted oil brokers and operators in China, India, and the United Arab Emirates “for their role in brokering the sale and transport of Iranian petroleum-related products.”
The sanctions also included the head of Iran’s National Iranian Oil Company and the Iranian Oil Terminals Company, both of which “contribute to financing Iran’s destabilizing activities,” according to the US Treasury.
In addition, eight vessels have been designated as “blocked property” due to their association with the blacklisted entities.
The new sanctions follow US President Donald Trump’s restoring the maximum pressure policy against Iran in early February, arguing that Tehran is “too close” to obtaining nuclear weapons. Trump also expressed interest in negotiating a deal with Iran.
For its part, Tehran has repeatedly denied any intentions of developing nuclear weapons, maintaining that its nuclear program is peaceful.
Monday’s sanctions additionally freeze the assets of the designated persons and entities. The US Treasury issued a warning to individuals and businesses that they cannot engage in transactions with the sanctioned entities unless authorized by OFAC.
The US Treasury Department accused the Iranian government of allocating billions of dollars worth of oil each year to armed groups to supplement its annual budget allocations.
This round of sanctions marks the second such move since Trump reinstated the maximum pressure policy. Earlier this month, the US targeted individuals and tankers involved in shipping Iranian crude oil to China, which the Treasury Department said was done on behalf of Iran's Armed Forces General Staff. The sanctions also affected entities and individuals in China, India, and the UAE.
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