In a move to intensify its “maximum pressure” campaign against Iran, the U.S. Department of State today announced new sanctions targeting seven entities involved in the illicit trade of Iranian oil and petrochemical products.
Secretary of State Marco Rubio released a statement outlining the designations, which also identify two vessels as blocked property.
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The action, announced at 11:02 AM EDT, directly targets four sellers and one purchaser of Iranian petrochemicals, estimated to be worth hundreds of millions of dollars.
Additionally, the Department of State is sanctioning a marine management company for its crucial role in the Iranian crude energy supply chain, facilitating the transport of millions of barrels of Iranian petroleum products. An Iran-based cargo inspection company has also been designated.
“So long as Iran attempts to generate oil and petrochemical revenues to fund its destabilizing activities, and support its terrorist activities and proxies, the United States will take steps to hold both Iran and all its partners engaged in sanctions evasion accountable,” Rubio said in a statement.
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The two vessels identified as blocked property are managed by the sanctioned marine management company. This action aims to further disrupt Iran’s ability to utilize its shipping network for illicit trade.
All designations were made pursuant to Executive Order (E.O.) 13846, which authorizes and reimposes certain sanctions concerning Iran, and in furtherance of President Trump’s National Security Presidential Memorandum 2. These measures underscore the United States’ continued efforts to restrict Iran’s access to revenue streams that could fund its controversial activities in the region and beyond.
The Department of State reiterated its commitment to monitoring and disrupting networks facilitating Iran’s illicit oil and petrochemical trade, signaling that further actions could be expected.
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