US sanctions Iran oil exports in support of Israel

The Biden administration issued sweeping sanctions Friday targeting Iranian oil exports after vowing to impose consequences over Tehran’s massive missile attack on 'Israel.'

News ID: ۲۰۰۰۱۵۸

13 October 2024

EghtesadOnline: The measures are designed to intensify financial pressure on Iran, including by limiting its ability to earn the energy revenue, the US Treasury Department said in a statement, according to the American website Al Monitor.  The department said its sanctions targeted “a significant portion” of the shadow fleet of tankers and illicit operators that move Iran’s petroleum exports.

Secretary of State Antony Blinken said in a statement Friday that the United States is “committed to curtailing Iran’s sources of revenue.”

“As long as Iran devotes its energy revenues to funding attacks on our allies, .., we will continue to use all the tools at our disposal to hold it accountable,” Blinken said.

The new sanctions target 16 entities and 23 oil tankers. They seem to be futile as they have proven so far. Iran currently exports over 1.7 m bpd despite all US attempts to choke off its oil revenues.

On October 1, Iran responded to the Israeli assassination of Hamas political bureau chief Ismail Haniyeh, Hezbollah Secretary General Seyed Hassan Nasrallah, and IRGC general Abbas Nilforoushan by launching as many as 200 ballistic missiles toward the Zionist regime’s military and intelligence bases all over the occupied Palestinian territories.

While the Israeli regime has threatened to retaliate, Iranian officials have warned that Tehran’s reciprocal response to any Israeli action will be harsh, proportional and well-calculated. / Mehr