US Imposes New Sanctions on Iran Amid Rising Tensions

US Imposes New Sanctions on Iran’s Oil Vessels and Companies

The US Treasury Department has issued a new wave of sanctions against Iran, targeting ships involved in selling Iranian oil and companies that facilitate its energy sector. The penalties were announced on Wednesday, following President Donald Trump’s renewed threats against Iran during his State of the Union address.

According to Secretary of the Treasury Scott Bessent, the sanctions aim to disrupt Iran’s ability to sell illicit oil and support its nuclear and conventional weapons programs. The US has been intensifying sanctions against Iran since 2018, when it withdrew from the Joint Comprehensive Plan of Action (JCPOA) agreement with Tehran.

The new sanctions target 12 vessels, as well as several companies and individuals involved in Iran’s oil sales and weapons acquisition. The penalties will freeze targeted assets in the US and make it largely illegal for American citizens to engage in financial transactions with them.

Iran has described the crackdown on its energy sector as “piracy,” while the US describes the Iranian oil trade as “illicit.” The two countries have been engaging in diplomacy to avert a conflict, with US and Iranian negotiators set to meet in Geneva on Thursday for their third round of negotiations this year.

Foreign Minister Abbas Araghchi stated that Iran is willing to negotiate a “fair and balanced” agreement with the US, but emphasized that it will not compromise on its right to peaceful use of nuclear technology. The US has called for zero uranium enrichment by Iran, which Araghchi’s statement appears to contradict.

Source: Al Jazeera