Iran's oil, petrochemical trade hit with new US sanctions
The designated firms are located in Iran, China, Vietnam and the United Arab Emirates.
WASHINGTON — The Biden administration announced a batch of new sanctions Thursday aimed at curbing Iran’s energy exports.
The department added six shipping companies and petrochemical manufacturers to its sanctions blacklist, as well as 20 affiliated shipping vessels. The designated firms, which are located in Iran, China, Vietnam and the United Arab Emirates, are accused of helping transport or sell Iranian petroleum or petrochemical products.
The Treasury Department also issued a general license approving certain transactions with the designated vessels under a “wind down” period lasting through late June.
Iran’s oil sector has been under heavy US sanctions since former President Donald Trump withdrew from the nuclear agreement in 2018. The latest sanctions come as efforts to revive the multilateral deal have stalled for months, mainly over Iranian demands that the United States said fell outside the scope of the nuclear deal.
