US targets Iranian oil with new sanctions
The Biden administration has announced a new round of sanctions on Iran in response to the 1 October attack on Israel.
The US Office of Foreign Assets Control, under the Department of the Treasury, designated 10 entities in multiple jurisdictions as well as 17 vessels as "blocked property".
The citation is their involvement in shipments for the already sanctioned National Iranian Oil Company (NIOC) and Triliance Petrochemical Co Limited (Triliance), the Treasury said.
The State Department is also designating six other entities and identifying six vessels as blocked property "for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran".
Among the sanctioned companies are the UAE-based Max Maritime Solutions FZE and Jazira Das International Oil Products Trading LLC, as well as Hong Kong-based Cathay Harvest Marine Ltd.
"This action intensifies financial pressure on Iran, limiting the regime’s ability to earn critical energy revenues to undermine stability in the region and attack US partners and allies," the US Treasury said in a statement.