The United States Imposes Sanctions on Those Facilitating Iranian Oil and Petrochemical Trade

SadaNews Economy - The United States has enforced decisive measures to disrupt the Iranian regime's ability to finance its destabilizing activities, including its nuclear program, support for terrorist groups, and repression of its people, according to a statement from the U.S. State Department. The U.S. State Department imposed sanctions on 20 entities for their involvement in the Iranian oil trade or petroleum products or Iranian petrochemicals, designating 10 vessels as frozen assets. These measures target an operating company, ship management companies, and wholesale buyers that have collectively facilitated the export and purchase of millions of barrels of Iranian crude oil, petroleum products, and petrochemicals. The U.S. State Department has classified several ship management companies that have engaged their vessels in illegal shipping operations and other deceptive shipping practices that endanger global trade flows. The department also designated a China-based operating company for a crude oil and petroleum products terminal that has repeatedly accepted Iranian-origin crude oil, including from vessels designated by the United States. Additionally, numerous companies in India, the United Arab Emirates, Turkey, and Indonesia were designated due to their large purchases and sales of Iranian petrochemical products. As President Trump has stated, any country or individual that chooses to purchase Iranian oil or Iranian petrochemicals exposes themselves to the risk of U.S. sanctions and will not be allowed to conduct business with the United States. Meanwhile, the U.S. Treasury Department has designated more than 115 targets in the massive shipping empire and sanctions evasion network of Hossein Shmakhani, a close associate of the Iranian regime and the son of Ali Shmakhani, the political advisor to the Supreme Leader. The U.S. State Department added that it will continue to exert maximum pressure on the Iranian regime, supporting Presidential National Security Memorandum 2, until Iran accepts an agreement that promotes regional peace and stability and abandons all its nuclear ambitions. The actions taken today demonstrate our determination to target those who enable Iran's illicit trade in oil and petrochemicals and cut off the regime's funding sources for its destabilizing activities. This action taken by the U.S. State Department is in accordance with Executive Order 13846, which targets the oil and petrochemical sectors in Iran. This action represents the eleventh round of sanctions targeting Iranian oil sales since the president issued Presidential National Security Memorandum 2 on February 4, 2025, which ordered a maximum pressure campaign against Iran.