The United States Department of the Treasury's Office of Foreign Assets Control (OFAC) on Thursday announced sanctions on 35 entities and vessels allegedly involved in transporting illicit Iranian petroleum to foreign markets. In a statement, Washington said that this move further intensifies pressure on Iran's petroleum sector, following the country's attack on Israel on October 1, 2024, and its recent nuclear escalations. These measures are added on sanctions imposed on October 11.
"Iran continues to funnel revenues from its petroleum trade toward the development of its nuclear program, proliferation of its ballistic missile and unmanned aerial vehicle technology, and sponsorship of its regional terrorist proxies, risking further destabilizing the region," Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence Bradley Smith noted.
