The United States has taken action against seven entities and two vessels for their involvement in the trade of Iranian petroleum products and petrochemicals, as part of President Trump's maximum pressure campaign to drive Iran's illicit oil exports to zero.
Four sellers and one purchaser of Iranian petrochemicals worth hundreds of millions of dollars have been designated under Executive Order (E.O.) 13846. The designation targets companies that have played a key role in the Iranian crude energy supply chain, which transports millions of barrels of petroleum products annually.
In addition to the economic sanctions, the Department of State has also sanctioned one marine management company and an Iran-based cargo inspection company, both of which are deemed to be involved in sanctions evasion. The marine management company is critical to the Iranian energy supply chain, while the cargo inspection company provides essential services to support the illicit trade.
Furthermore, two vessels managed by the marine management company have been identified as blocked property, further restricting their ability to engage in commercial activities. The blockage of these vessels marks an important step in disrupting Iran's efforts to generate revenue through illicit oil exports.
The US President has stated that as long as Iran attempts to generate oil and petrochemical revenues to fund its destabilizing activities and support terrorist organizations, the United States will take steps to hold both Iran and its partners accountable. The sanctions imposed today are a significant blow to Iran's ability to engage in these illicit activities, and demonstrate the US commitment to enforcing maximum pressure against Tehran.
The designation of these entities and vessels is part of President Trump's National Security Presidential Memorandum 2, which authorizes and reimposes certain sanctions with respect to Iran. The move marks an important step forward in the US effort to disrupt Iran's efforts to evade sanctions and undermine its national security interests.