U.S. Treasury Department announcements or official government press releases

U.S. Expands Sanctions on Iran's Oil Sector, Adding 16 Entities and 23 Ships Over Missile Attack on Israel

Oct 11, 2024, 07:31 PM

The United States has expanded sanctions on Iran's petroleum and petrochemical sectors in response to Iran's October 1 ballistic missile attack on Israel. The U.S. Treasury Department added 16 entities and 23 ships to its Specially Designated Nationals list. Iran's crude exports have dramatically slowed down, dropping to around 600,000 barrels per day in the first 10 days of October, as the country braces for a possible retaliatory strike on its oil facilities. The sanctions aim to further disrupt Iran's ability to fund and carry out destabilizing activities. Jake Sullivan stated that the U.S. consulted with G7 partners before taking these measures.