Iran (IMNA) - On October 11, the US Treasury Department designated 10 companies and 17 vessels as blocked property, asserting their involvement in the shipment of Iranian oil and petrochemical products. These sanctions aim to increase financial pressure on Iran, particularly by restricting its capacity to generate energy revenue that allegedly supports resistance movements throughout the Middle East.
US officials indicated that the sanctions specifically target a significant portion of the shadow fleet of tankers involved in Iran’s petroleum exports. Treasury Secretary Janet L. Yellen stated, "In response to Iran’s attack on Israel, the United States is taking decisive action to disrupt further the Iranian regime’s ability to fund and carry out its destabilizing activity." She emphasized that these sanctions are designed to impede Iranian efforts to channel energy revenues into military programs, including nuclear development and ballistic missile proliferation.
Earlier in the day, Secretary of State Antony Blinken reaffirmed the US commitment to curtailing Iran's revenue sources for what he described as malign activities, stating, "As long as Iran devotes its energy revenues to funding attacks on our allies… we will continue to use all the tools at our disposal to hold it accountable."
The sanctions were enacted under the Stop Harboring Iranian Petroleum Act, which targets foreign individuals involved in Iranian oil trade. This legislative measure was part of a broader effort by the Biden administration to tighten restrictions on Iran's oil exports.
The backdrop for these sanctions includes Iran's missile attack on October 1, which was characterized as retaliation for the assassinations of key militant leaders, including Hamas chief Ismail Haniyeh and Hezbollah leader Sayyed Hassan Nasrallah. Iranian officials claimed that their operation, dubbed Operation True Promise II, achieved over 90% success.
Tehran has condemned the US sanctions as part of an economic war aimed at undermining its sovereignty and independence.
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