The Biden administration imposed fresh sanctions on Iran’s petroleum industry on Friday in a retaliatory response to Tehran’s missile attack on Israel last week. The Treasury Department stated that the sanctions would focus on the “shadow fleet” of tankers and illicit operators that assist in transporting the Iranian regime’s petroleum exports in violation of existing sanctions.
The new punitive measures target ten entities in multiple jurisdictions and 17 vessels, designating them as “blocked property” under a federal law. This law allows the federal government to freeze a company’s assets and property in the United States. The entities and vessels are being sanctioned for their involvement in shipments of Iranian petroleum and petrochemical products, according to the announcement.
The State Department has announced its sanctions on six companies and six vessels involved in the Iranian petroleum trade. White House National Security Adviser Jake Sullivan stated that these measures are designed to further deny Iran the financial resources it uses to support its missile programs and provide assistance to terrorist groups that pose a threat to the United States, its allies, and partners. Sullivan also mentioned that the announcement was coordinated with US allies and partners, many of whom will be announcing their measures in the coming days to hold Iran accountable for its attack on Israel.
Friday’s announcement comes amid increased tensions in the Middle East one year after the start of the Israel-Hamas war.
Iran launched nearly 200 ballistic missiles at different targets in Israel on 1st October in retaliation for Israel’s airstrike in Beirut last month, which killed Hassan Nasrallah, the leader of the Iran-backed militant group Hezbollah. Most of the Iranian missiles were intercepted with the assistance of US Navy destroyers deployed in the eastern Mediterranean. This attack marked Iran’s second strike on Israel this year, with a previous attack in April involving the launch of 300 missiles and drones into Israel.
Israel has vowed to retaliate, sparking concerns that the conflict between Israel and Hamas could escalate into a broader war inflaming the Middle East.
Team BharatShakti (With inputs from Reuters)