Extending US Sanctions on Iran’s Petroleum Sector

Washington: The US has extended sanctions on Iran’s petroleum and petrochemical sector in response to missile attacks on Israel.

According to the report, the US Department of Treasury has said that in response to the missile attacks on Israel, the US has further extended the sanctions imposed on Iran’s petroleum and petrochemical sector. He said that this will put financial pressure on Iran.

The US Treasury Department said in a statement that the sanctions would limit Iran’s ability to exploit the energy sector to destabilize the region and attack US partners and allies.

According to the statement, the Ministry of Finance will ban anyone working in the petroleum and petrochemical sector of the Iranian economy under this decision.

The Treasury Department added that 16 Iranian entities and 17 vessels have been identified and blocked. And the aforementioned entities were involved in the delivery of kerosene and petrochemicals for the National Iranian Oil Company.

The U.S. Treasury Department has also taken steps to prevent financing of Iran’s weapons programs and support for terrorist proxies and partners.

Another 6 Iranian entities involved in Tehran’s petroleum trade have been sanctioned and 6 vessels have been marked as blocked property.