WASHINGTON (dpa-AFX) - The United States has imposed sweeping sanctions targeting Iran's energy exports and to deny the Iranian regime from using revenues from it to fund its malign activity.
The Department of State said it is sanctioning approximately 40 individuals, entities, and vessels involved in the trade of Iranian energy products that generates hundreds of millions of dollars of revenue for the Iranian regime. These designations include some of the largest buyers of Iranian petrochemical products by volume and value, as well as the leadership of the companies involved in that trade. The Department is also designating a China-based liquid petrochemical products terminal and multiple shadow fleet operators and vessels.
Concurrently, the Department of the Treasury is sanctioning over 50 individuals, entities, and vessels involved in exporting Iranian petroleum and liquefied petroleum gas (LPG) to global markets. Treasury is designating a network of actors that facilitate hundreds of millions of dollars in LPG shipments, a China-based crude oil terminal, and a Chinese refinery purchasing Iranian oil. These actions aim to disrupt funding for Iran's regime and its military activities that threaten the United States and regional allies.
These actors have collectively enabled the export of billions of dollars' worth of petroleum and petroleum products, providing critical revenue to the Iranian regime and its support for terrorist groups that threaten the United States.
This action targets a network moving hundreds of millions of dollars' worth of Iranian LPG, along with nearly two dozen shadow fleet vessels, a China-based crude oil terminal, and an independent 'teapot' refinery, which are key to Iran's ability to export petroleum and petroleum products to generate significant revenue.
'The Treasury Department is degrading Iran's cash flow by dismantling key elements of Iran's energy export machine,' said Secretary of the Treasury Scott Bessent.
This is the fourth round of sanctions where the Trump Administration has targeted China-based refineries that continue to purchase Iranian oil.
The U.S. Treasury's target include UAE-based Amita Petrochemical Trading, Hong Kong-based shell companies Ravenala Trading Co., Limited and Crimson Blue Trading Co., Limited and Hong Kong-based AIX Company Limited, Panama-based Aerilyn Shipping Inc, UAE-based S E A Ship Management LLC, Hong Kong-based companies Yu Hong De Company Limited and Juliet Trading Limited and China-based Shandong Jincheng Petrochemical Group Co., Ltd.
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