The State Department is designating companies that have been supporting Iran’s sale of petrochemical products, including shadow fleet assets, for sanctioning in a move to choke off Iran’s flow of income.
The Trump administration said Iran has continued to “fuel conflict and instability in the Middle East, disrupt trade flows, and fund terrorist and proxy groups.”
The new sanctions, announced on Thursday, are intended “to stem the flow of revenue that the regime uses to support such destabilizing activity, as well as to oppress its own people.”
President Donald Trump announced plans to hurt Iran financially in a memorandum in early February when he said, “Since its inception in 1979 as a revolutionary theocracy, the Government of the Islamic Republic of Iran has declared its hostility to the United States and its allies and partners.”
Trump’s presidential memo listed everything from Iran continuing to work toward the development of nuclear weapons to its involvement in the Oct. 7 terrorist strikes against Israel as reasons enough to reduce Iran’s economic strength.
In late June, Trump ordered military strikes against Iran’s nuclear weapons sites following nearly two weeks of strikes by Israel. Iran has not let up on its warnings of developing nuclear weaponry, and attempts at new negotiations continue.
Trump posted a warning message in early May that anyone involved in Iran’s oil and gas sales would be targeted by the U.S. “ALERT: All purchases of Iranian Oil, or Petrochemical products, must stop, NOW!”
Trump warned sanctions would be imposed on anyone helping to boost Iran’s economy. “Any Country or person who buys ANY AMOUNT of OIL or PETROCHEMICALS from Iran will be subject to, immediately, Secondary Sanctions.” Trump said the enforcement action would include being blocked from doing business with America.
The new announcement from State details sanctions against three companies involved in exporting petrochemical products from Iran. Also sanctioned are three additional companies, based in the United Arab Emirates, India, and Panama, for using their freighters to ship Iranian petroleum products.
The shadow fleet ships supporting Iran’s oil and gas marketing do everything possible to hide their activities, according to the State Department. That includes running with required identity beacons turned off, which puts all ships in their vicinity in danger of involvement in a collision.
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