The United States on October 11 issued additional sanctions targeting Iran's oil industry in response to its October 1 attack on Israel, the Treasury Department said.
The new sanctions are designed to increase financial pressure on Iran and limit the ability of its regime to earn money from oil sales that can be used to undermine stability in the region and attack U.S. partners and allies, the Treasury Department said in a news release.
"In response to Iran's attack on Israel, the United States is taking decisive action to further disrupt the Iranian regime's ability to fund and carry out its destabilizing activity," Treasury Secretary Janet Yellen said.
The sanctions target Iranian efforts to channel revenues from its energy industry into deadly and disruptive activity, including development of its nuclear program, the proliferation of ballistic missiles and drones, and support to "regional terrorist proxies with dangerous consequences for the region and the world," Yellen said.
"We will not hesitate to take further action to hold Iran accountable," she added.
The department said its Office of Foreign Assets Control (OFAC) is designating 10 entities in multiple jurisdictions and identifying 17 vessels as blocked property for their involvement in shipments of Iranian petroleum and petrochemical products in support of the National Iranian Oil Company (NIOC) and Triliance Petrochemical Company.
In addition, the U.S. State Department is designating six entities and identifying six vessels as blocked property for transporting or trading petroleum products from Iran.
"Collectively, these actions target a significant portion of the shadow fleet of tankers and illicit operators that move the Iranian regime's petroleum exports," the Treasury said.
NIOC was designated in October 2020 for its financial support to the Quds Force of Iran's Islamic Revolutionary Guards Corps. Triliance was designated in January 2020 for facilitating the sale of Iranian petroleum products from NIOC.
The sanctions freeze any assets the targeted entities and ships hold within U.S. jurisdiction and bar U.S. persons from any dealings with them.