Indian firm among 15 entities targeted over oil trade

Washington DC: The United States on Friday (local time) imposed fresh sanctions targeting Iran’s oil and petrochemical trade. The decision came hours after talks between both the countries concluded

Washington DC: The United States on Friday (local time) imposed fresh sanctions targeting Iran’s oil and petrochemical trade. The decision came hours after talks between both the countries concluded in Oman. The sanctions target 15 entities and 14 vessels linked to Tehran’s “shadow fleet,” which were secretly transporting petroleum, petroleum products, and petrochemicals in violation of international restrictions.

In a statement, State Department spokesperson Tommy Pigott said that the measures were part of the Trump administration’s renewed pressure campaign against Tehran.

“President Donald Trump is committed to driving down the Iranian regime’s illicit oil and petrochemical exports under the administration’s maximum pressure campaign,” Pigott said.The United States said that the fresh sanctions were aimed at cutting off revenue streams that Tehran uses to fund repression at home and destabilising activities abroad. Pigott accused Tehran of prioritising repression and regional destabilisation over domestic welfare.

A statement by Tommy Pigott, the Principal Deputy Spokesperson of the US State Department, noted, “The Department of State is sanctioning 15 entities, two individuals, and 14 shadow fleet vessels connected to the illicit trade in Iranian petroleum, petroleum products, and petrochemical products. These targets have generated revenue that the regime uses to conduct its malign activities. ”

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The statement said, “Instead of investing in the welfare of its own people and crumbling infrastructure, the Iranian regime continues to fund destabilising activities around the world and step up its repression inside Iran.”

“So long as the Iranian regime attempts to evade sanctions and generate oil and petrochemical revenues to fund such oppressive behaviour and support terrorist activities and proxies, the United States will act to hold both the Iranian regime and its partners accountable.”

The statement concluded by saying that Trump is committed to bringing down Iran’s oil exports: “The President is committed to driving down the Iranian regime’s illicit oil and petrochemical exports under the Administration’s maximum pressure campaign.”

These sanctions follow the US had imposed sanctions in January on Iran’s Interior Minister Eskandar Momeni and several other officials, citing Tehran’s violent response to recent anti-government protests.

Announcing the measures, the US Treasury Department said Momeni “oversees the murderous Law Enforcement Forces of the Islamic Republic of Iran (LEF), a key entity responsible for the deaths of thousands of peaceful protesters.”

The sanctions package also targets multiple senior officers of the Islamic Revolutionary Guard Corps (IRGC), along with Iranian investor Babak Morteza Zanjani, who is accused of having “embezzled billions in funds from the Iranian people.

“In a first-of-its-kind move, Treasury also imposed restrictions on digital currency exchanges connected to Zanjani “that have processed large volumes of funds associated with IRGC-linked counterparties.”

Meanwhile, Iran’s Foreign Ministry on Friday shared Foreign Minister Seyed Abbas Araghchi’s remarks on X following the conclusion of talks between the US and Iran.

In his remarks, he said that the Iranian viewpoints and concerns were expressed. Calling it a good start, he said there was consensus to continue the consultations.

“Our interests, the rights of the Iranian people, and all matters that needed to be stated were presented in a very positive atmosphere, and the other side’s views were also heard. Regarding the very principle of continuing the negotiations, there is almost a consensus, and it was agreed that they should continue.”