U.S. Expands Sanctions on Iran's Energy Sectors Amid Tensions

The U.S. has expanded sanctions on Iran's petroleum and petrochemical sectors following Iran's missile attack on Israel. This action seeks to limit Iran's energy revenue, vital to funding its nuclear and missile programs. The Treasury has designated 16 entities and 17 vessels as blocked for their involvement.

The United States has intensified economic pressure on Iran by expanding sanctions on its petroleum and petrochemical sectors. This move follows a missile attack by Iran on Israel, aiming to restrict Iran's ability to generate energy revenues crucial for its defense efforts.

With this action, the Treasury Department targets additional sectors of Iran's economy under an existing executive order. The goal is to deny Iran financial resources potentially supporting nuclear and missile programs, according to an official statement released Friday.

Additionally, the Treasury Department has identified 16 entities and 17 vessels as blocked properties due to their roles in transporting Iranian petroleum and petrochemical goods, all in support of the National Iranian Oil Company.

(With inputs from agencies.)