The United States imposed a fresh round of sanctions targeting Iran's oil industry on Monday, hitting more than 30 brokers, tanker operators, and shipping companies for their role in selling and transporting Iranian petroleum, the Treasury Department said.
seeks to bring Iran's crude exports to zero to prevent the country from obtaining a nuclear weapon and builds on the layers of sanctions already imposed by his government and the previous Biden administration.
Iranian Oil Company, and the Iranian Oil Terminals Company, Treasury said.
maximum pressure" campaign on Iran, including efforts to drive the country's oil exports to zero, reimposing Washington's tough policy on Iran that was practised throughout Trump's first term.
Oil is a top source of revenue for Iran, and targeting the country's exports is meant to deny the government funds for its nuclear and missile programs. The move generally prohibits US individuals or entities from doing business with the targets and freezes US-held assets.
first term after reimposing sanctions, but they rebounded under Biden's White House tenure as Iran succeeded in evading sanctions.
International Energy Agency believes Saudi Arabia, the United Arab Emirates, and other OPEC members have spare capacity to make up for any lost exports from Iran, which is also an OPEC member.
(Reuters)
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