The Trump administration has sanctioned entities and individuals involved in the sale of Iranian oil and petroleum products because funds from this trade are suspected to be from Iranian-backed groups.
The new designation covers 14 individuals, 24 companies, 10 vessels, and seven aircraft, all of which are authorized under various U.S. laws and executive orders.
At the same time, the Treasury Department has designated 41 entities, individuals, ships and aircraft to ramp up efforts against Iran’s oil and petrochemical exports and disrupt financial flows and commercial operatives supporting Iranian activities, economic news website MENAFN reported.
The State Department further claimed that funds generated from this oil deal are being used to support groups allegedly backed by Iran and to procure weapons systems that pose a direct threat to the U.S. military and U.S. allies.
Individuals listed include nationals of Singapore, Iran, and Canada. The targeted companies are located in multiple jurisdictions, including the United Arab Emirates, Greece, Singapore, Liberia, Germany, Panama, India, and Iran.
President Trump’s administration says the action is part of a broader economic pressure campaign against Iran. The U.S. government also requires U.S. companies operating in third countries to comply with these sanctions.
The United States has been trying hard to eliminate Iran’s oil revenues, but its illegal efforts have proven unsuccessful. Despite the Trump administration’s intensified campaign against Iran, crude oil exports to China have increased to record levels in the past few months, according to statistics released by various international organizations.
MNA