The Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned Iran’s petroleum and petrochemical exports.
“The Treasury Department is degrading Iran’s cash flow by dismantling key elements of Iran’s energy export machine,” said Treasury Secretary Scott Bessent. “Under President Trump, this administration is disrupting the regime’s ability to fund terrorist groups that threaten the United States.”
According to the Treasury’s press statement, more than fifty “individuals, entities, and vessels that facilitate Iranian oil and liquefied petroleum gas (LPG) sales and shipments from Iran” have been sanctioned. “These actors have collectively enabled the export of billions of dollars’ worth of petroleum and petroleum products, providing critical revenue to the Iranian regime and its support for terrorist groups that threaten the United States.”
The move is the fourth round of sanctions targeting “China-based refineries that continue to purchase Iranian oil,” the Department said.
Last week, the State Department imposed sanctions on Iran.
“These sanctions actions demonstrate Iran’s continuing attempts to procure components and technologies in support of its proliferation activities that threaten U.S. and regional security,” a statement from the State Department’s spokesperson’s office read, explaining that the “United States, as directed in the President’s National Security Presidential Memorandum 2 from February 4, is committed to denying Iran all paths to a nuclear weapon and we will not hesitate to hold accountable non-Iranian entities that contribute to or otherwise support Tehran’s proliferation programs in violation of UN restrictions.”
“The United States is implementing snapback sanctions against the Iranian regime. New sanctions and export controls will target 44 actors tied to Iran’s nuclear, missile, and military programs,” Secretary of State Marco Rubio announced on X. “As [President Trump] has made clear, we will deny Iran all paths to a nuclear weapon.”
