Sanctions target the nation’s oil business.
On Monday, the U.S. Treasury Department said in a statement it was placing fresh sanctions on key actors in the Iranian Islamic Republic’s oil sector, including the Iranian Ministry of Petroleum.
“The regime in Iran uses the petroleum sector to fund the destabilizing activities of the IRGC-QF,” Treasury Secretary Steven Mnuchin said in a statement, referring to the elite foreign paramilitary and espionage arm of the Islamic Revolutionary Guard Corps—the Quds Force.
The minister of petroleum, the National Iranian Oil Company, and the National Iranian Tanker Company were also blacklisted alongside other individuals and entities in a move that freezes any U.S. assets of those blacklisted and generally bars Americans from dealing with them.
Iranian oil exports rose sharply in September in defiance of the American sanctions, as Iran works to get around sanctions and keep exports flowing.
“The few remaining buyers of Iranian crude oil should know that they are helping to fund Iran’s malign activity across the Middle East, including its support for terrorism,” Secretary of State Mike Pompeo said in a separate statement.
As the Lord Leads, Pray with Us…
- For the effectiveness of the newest sanctions on Iran’s oil business in diminishing that nation’s terror support.
- For officials seeking to prevent Iranian hackers from interfering in the U.S. 2020 elections.
- For the president’s administration as efforts are made to curb Iran’s nuclear expansion.
Sources: Reuters, One America News
