The United States has announced a new package of sanctions targeting Iranian oil and petrochemical networks as part of its ongoing maximum pressure campaign, seeking to further restrict revenue streams that Washington says support Tehran’s military activities and regional influence.
According to the United States Department of State, the measures target key entities, individuals, and vessels involved in the transportation and trade of Iranian petroleum and petrochemical products. Additionally, the sanctions aim to disrupt the infrastructure underpinning Iran’s energy export network.
Thomas Pigott said the actions directly target Iran’s “illicit oil economy” and focus on entities and maritime assets that play a central role in moving oil and petrochemical exports.
“Specifically, the Department of State is imposing sanctions on eight entities and identifying eight vessels as blocked property due to their direct involvement in the transport of Iranian petroleum and petrochemical products.”
Measures Target Energy Trade Network
The latest package also designates three entities and one individual linked to the trade and facilitation of Iranian energy commodities. Furthermore, the measures build on separate actions announced by the United States Department of the Treasury targeting a large Iranian oil sales network.
According to US officials, that network moved millions of barrels of oil valued at billions of dollars through a series of front companies based in Hong Kong. Moreover, authorities said the network used those structures to manage storage, shipping, and sales operations.
US officials stated that proceeds from these activities support the Islamic Revolutionary Guard Corps and Iran’s Armed Forces General Staff, providing financial resources for military and regional activities.
Washington Warns of Further Action
Pigott said the United States remains prepared to take additional measures against entities and jurisdictions that facilitate Iranian energy trade or provide support to the country’s energy sector.
“The United States will not hesitate to take decisive action against any entity or jurisdiction that facilitates this illicit trade or enables the Iranian government’s capacity to threaten its neighbors and repress its own citizens.”
He added: “Engaging in transactions or providing material support to the Iranian energy sector carries severe risk of exposure to US sanctions.”
Additionally, the State Department’s Rewards for Justice Program continues to offer rewards of up to $15m for information that helps disrupt financial networks and revenue streams supporting the IRGC and its affiliated organisations.
