Shafaq News/ On Thursday, the US Department of the Treasuryannounced, new sanctions related to Iran's oil and petrochemical sectors.
The US Department of the Treasury’s Office of Foreign AssetsControl (OFAC) announced in a statement that it is designating a “teapot” oilrefinery and its chief executive officer for purchasing and refining hundredsof millions of dollars worth of Iranian crude oil. OFAC accused the refinery ofsupplying oil to vessels linked to Ansarallah (Houthis) and the IranianMinistry of Defense and Armed Forces Logistics (MODAFL).
Secretary of the Treasury Scott Bessent said, “The UnitedStates is committed to cutting off the revenue streams that enable Tehran’scontinued financing of terrorism and development of its nuclear program.”
In addition, OFAC imposed sanctions on 19 entities andvessels responsible for shipping millions of barrels of Iranian oil. Theseentities are part of Iran’s “shadow fleet” of tankers that supply teapotrefineries like Luqing Petrochemical, the statement added.
This marks the fourth round of sanctions aimed at Iranianoil sales, following the issuance of National Security Presidential Memorandum2 by the President on February 4, 2025.
The US Department of State designated another entity underUS sanctions for being involved in significant transactions related to thepurchase, sale, or transport of petroleum products from Iran.
Last week, OFAC imposed sanctions on the Iranian oilminister, commercial vessels, and entities.
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