USA Announces New Sanctions on Iranian Oil
The Department of the Treasury sanctioned several entities, including the National Iranian Oil Company, Iran’s petroleum ministry and the National Iranian Oil company, by linking them to the Iranian Revolutionary Guards Corps’ (IRGC) elite Quds Force • Full Story
I24News
The US imposed new sanctions on Iran’s oil sector over sales to Syria and Venezuela, according to a statement Monday.
The Department of the Treasury sanctioned several entities, including the National Iranian Oil Company, Iran’s petroleum ministry and the National Iranian Oil company, by linking them to the Iranian Revolutionary Guards Corps’ (IRGC) elite Quds Force.
Several Iranian individuals were also named in the statement for facilitating oil sales between Iran and other countries.
“The regime in Iran uses the petroleum sector to fund the destabilizing activities of the IRGC-QF,” Secretary of Treasury Steven Mnuchin said in a statement.
“The Iranian regime continues to prioritize its support for terrorist entities and its nuclear program over the needs of the Iranian people,” he said.
The IRGC operated a network that moved dozens of oil tankers to Syria in early 2019, according to the Treasury Department.
The designation as a counterterrorism measure means that removing the sanctions would require taking legal action to reverse.
The Treasury Department also sanctioned businessman Mahmoud Madanipour and United Arab Emirates-based Mobin International Limited, accusing them of working with Venezuela’s state-owned Petroleos de Venezuela.
The Trump administration sanctioned Venezuela and its president, Nicolás Maduro. In August, the US captured four Iranian ships it said were heading for Venezuela.
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