US Imposes New Sanctions Against Iran’s Oil Sector
Sanctions targeting individuals and companies supporting the unit &# 171; Quds&# 187;
The United States on Monday imposed new sanctions on the oil sector of the Islamic Republic of Iran, including against the Iranian Ministry of Oil.
Sanctions are being imposed on key players in Iran’s oil sector as they support the Quds Force, an elite unit of the Islamic Revolutionary Guard Corps blacklisted by the US, according to a Treasury statement..
“The Iranian regime is using the oil sector to finance destabilizing Quds activities,” Treasury Secretary Stephen Mnuchin said in a statement..
The sanctions hit the Minister of Oil, the National Iranian Oil Company (NIOC), the National Iranian Tanker Company and a number of individuals and legal entities.
The Ministry of Finance also imposed sanctions on businessman Mahmoud Madanipur and UAE-based company Mobin International Limited, accusing them of entering into an agreement with the Venezuelan state-owned company Petroleos de Venezuela (PDVSA) to supply gasoline received from NIOC to the government of Venezuelan President Nicolas Maduro..
The list also includes British companies Mobin Holding Limited and Oman Fuel Trading owned by Madanipur..
Mobin International Oman Fuel said they owned a cargo carried on board several tankers that were seized by the US authorities in August.
The US Department of Justice is convinced that the cargo was destined for Venezuela, whose oil industry is also under US sanctions, but companies have denied this..
US Secretary of State Mike Pompeo called the new sanctions “an important step in a campaign of maximum pressure to limit the Iranian regime’s ability to threaten its neighbors and destabilize the Middle East.”. “The few remaining buyers of Iranian oil should be aware that they are helping finance Iran’s malicious activities in the Middle East, including supporting terrorism,” he added..
“The campaign of maximum pressure is aimed against the Iranian regime, not against the Iranian people,” he stressed. “That is why, in parallel with the imposition of the sanctions, the Ministry of Finance has updated the general humanitarian trade license and issued accompanying recommendations. The Iranian regime has suffered the longest from its own people, and the United States supports the Iranian people ‘s access to humanitarian aid. “.
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