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US Slaps Sanctions on 15 Entities Over Iran's Petrochemical Trade

The United States has imposed sanctions on 15 entities, two individuals, and 14 vessels involved in the illicit Iranian petroleum and petrochemical trade. The State Department accuses the Iranian regime of using this revenue to fund destabilizing activities worldwide and increase internal repression, rather than investing in its people. This action follows previous sanctions in January on Iran's Interior Minister and other officials linked to the crackdown on protests. The US Treasury also targeted a major Iranian investor and, for the first time, digital currency exchanges connected to him for processing funds for the Revolutionary Guard.

Key Points: US Sanctions Target Iranian Petrochemical Revenue

  • Targets 15 entities & individuals
  • Aims to cut Iran's illicit oil revenue
  • Accuses regime of funding repression & proxies
  • Follows earlier sanctions on officials
3 min read

US imposes sanctions on 15 entities targeting Iranian petrochemical products

US imposes sanctions on 15 entities and individuals, accusing Iran of using oil and petrochemical funds for destabilizing global activities and internal repression.

"Instead of investing in the welfare of its own people... the Iranian regime continues to fund destabilising activities - US State Department"

Washington, DC, February 6

The United States on Friday imposed sanctions on 15 entities targeting Iranian petroleum and petrochemical products, accusing Iran of using the funds for "destabilising activities" worldwide and in response to the protests in the country.

A statement by Tommy Pigott, the Principal Deputy Spokesperson of the US State Department, noted, "The Department of State is sanctioning 15 entities, two individuals, and 14 shadow fleet vessels connected to the illicit trade in Iranian petroleum, petroleum products, and petrochemical products. These targets have generated revenue that the regime uses to conduct its malign activities. "

The statement said, "Instead of investing in the welfare of its own people and crumbling infrastructure, the Iranian regime continues to fund destabilising activities around the world and step up its repression inside Iran."

"So long as the Iranian regime attempts to evade sanctions and generate oil and petrochemical revenues to fund such oppressive behaviour and support terrorist activities and proxies, the United States will act to hold both the Iranian regime and its partners accountable."

The statement concluded by saying that Trump is committed to bringing down Iran's oil exports: "The President is committed to driving down the Iranian regime's illicit oil and petrochemical exports under the Administration's maximum pressure campaign."

These sanctions follow the US had imposed sanctions in January on Iran's Interior Minister Eskandar Momeni and several other officials, citing Tehran's violent response to recent anti-government protests.

Announcing the measures, the US Treasury Department said Momeni "oversees the murderous Law Enforcement Forces of the Islamic Republic of Iran (LEF), a key entity responsible for the deaths of thousands of peaceful protesters."

The sanctions package also targets multiple senior officers of the Islamic Revolutionary Guard Corps (IRGC), along with Iranian investor Babak Morteza Zanjani, who is accused of having "embezzled billions in funds from the Iranian people.

"In a first-of-its-kind move, Treasury also imposed restrictions on digital currency exchanges connected to Zanjani "that have processed large volumes of funds associated with IRGC-linked counterparties."

Meanwhile, Iran's Foreign Ministry on Friday shared Foreign Minister Seyed Abbas Araghchi's remarks on X following the conclusion of talks between the US and Iran.

In his remarks, he said that the Iranian viewpoints and concerns were expressed. Calling it a good start, he said there was consensus to continue the consultations.

"Our interests, the rights of the Iranian people, and all matters that needed to be stated were presented in a very positive atmosphere, and the other side's views were also heard. Regarding the very principle of continuing the negotiations, there is almost a consensus, and it was agreed that they should continue."

- ANI

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Reader Comments

P
Priyanka N
The US always talks about human rights and repression, but their sanctions often hurt ordinary Iranian people the most. The common man suffers while the regime finds other ways. It's a failed strategy that needs rethinking.
A
Aman W
From an Indian perspective, our foreign policy has to be very careful here. We have good relations with the US and we also need oil. Chabahar port is crucial for us. Hope our diplomats are navigating this wisely.
S
Sarah B
Interesting to see digital currency exchanges being targeted. That's a new front in financial sanctions. The embezzlement accusations against Zanjani are shocking - billions stolen from the people. No wonder there are protests.
V
Vikram M
The statement says Iran should invest in its people instead of "destabilising activities". Absolutely correct. Every government's first duty is to its citizens. Hope the Iranian people get the peace and prosperity they deserve.
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Karan T
The "maximum pressure campaign" hasn't worked so far, has it? Iran still finds buyers for its oil. Global energy markets are interconnected. Sanctions just push trade into shadowy networks, which is riskier for everyone.

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