US Imposes New Sanctions on Iran's Oil, Petrochemical Networks

The US has announced a new round of sanctions targeting Iran’s oil and petrochemical sector, intensifying its “maximum pressure” campaign aimed at cutting off revenue streams that Washington says support Tehran’s military and regional activities.

According to the US State Department, the measures target entities, individuals, and vessels involved in transporting Iranian oil and petrochemical products. Officials described the network as a key component of Iran’s energy exports.

The sanctions cover eight entities already linked to Iran’s energy trade, eight vessels designated as blocked property, and three additional entities and one individual connected to the marketing and transport of Iranian petrochemical products.

Separately, the US Department of the Treasury imposed sanctions on participants in an Iranian oil sales network that allegedly moved millions of barrels of crude worth billions of dollars through Hong Kong-based companies involved in storage, shipping, and sales.

US officials said the targeted networks help finance the Islamic Revolutionary Guard Corps and Iran’s armed forces, providing resources for what Washington describes as destabilizing activities across the Middle East.

The State Department warned that any individual or company involved in Iran’s oil trade could face US sanctions. It also noted that the “Rewards for Justice” program continues to offer up to $15 million for information that disrupts the financial operations of the Revolutionary Guard and its affiliates.