According to a release by the US Department of the Treasury, these actors have collectively enabled the export of billions of dollars' worth of petroleum and petroleum products, providing critical revenue to the Iranian regime and its support for terrorist groups that threaten the United Sta
Haley said in a post on X that China is an adversary of the United States and "number one buyer of Russian and Iranian oil," has been given a 90-day tariff pause by the Trump Administration.
The US Department of State announced the sanctions on Wednesday, alleging the Indian firms knowingly engaged in "significant transactions" for the purchase and marketing of Iranian petroleum products, violating American sanctions on Iran.
The US has imposed new sanctions on Iranian oil exports after a recent ceasefire with Israel. Despite brief hopes for relief, tensions remain high with military strikes and diplomatic talks ongoing. Iran denies cooperation with the UN watchdog, while indirect US-Iran talks continue, Al Jazee
"Iran's behaviour has left it decimated. While it has had every opportunity to choose peace, its leaders have chosen extremism... Treasury will continue to target Tehran's revenue sources and intensify economic pressure to disrupt the regime's access to the financial resources that fuel its
The US imposed sanctions on Wednesday on Shandong Shengxing Chemical Co., Ltd, a Chinese refinery, for buying over USD 1 billion worth of Iranian crude oil.
Bruce said that the refinery purchased millions of barrels of oil from Iran. She added that the US was further sanctioning entities and vessels in Iran's shadow fleet.
Iran's Ambassador to India, Dr Iraj Elahi, issued a stern warning to Israel, stating that any strikes on Iranian oil sites would provoke a devastating retaliation from Iran. He emphasised that the consequences of such actions would be "more harmful and painful" for Israel.
Oil prices added to earlier gains after President Joe Biden suggested that US and Israeli officials were discussing a possible strike by Israel against Iranian oil facilities, the Washington Post reported
In a strong bipartisan vote, the US Congress passed a bill on Friday to harden sanctions on Iranian oil, which would also impose measures on foreign ports and refineries that facilitate the trade of oil from Tehran, The Hill reported.