US Sanctions Target Iran's Shadowy Petrochemical Trade Network

The United States has imposed sanctions on entities linked to Iran and the Houthis, targeting vessels and individuals involved in Iran's lucrative petroleum trade. These actions aim to disrupt financial flows supporting Tehran's nuclear ambitions and regional proxy activities.

The United States intensified its economic pressure on Iran by imposing further sanctions on Iranian and Houthi-linked entities on Thursday, as per the Treasury Department's website.

The sanctions target three vessels deeply involved in Iran's petroleum and petrochemical trade, a significant money-spinner for Iran's regime. This trade is believed to fund Iran's nuclear program, ballistic missile development, and regional proxies such as Hezbollah, Hamas, and the Houthis.

The U.S. Treasury's actions also extend to 12 individuals associated with the Houthi group's financing schemes, including money laundering and arms trafficking activities. The sanctions freeze U.S.-held assets of these parties, with potential penalties for Americans conducting business with them.

(With inputs from agencies.)