The ministry added in a statement, “This measure increases the amount of financial pressure on… Iran“This limits the regime’s ability to use the revenues it earns from vital energy sources to undermine stability in the region and target US partners and allies.”
The decision would include sectors Oil and petrochemicals in the current executive order targeting key sectors of the Iranian economy with the aim of depriving the government of the financial resources it uses to support its nuclear and missile programme.
The statement stated that the Treasury Department also classified 16 entities and 17 ships as prohibited properties due to their use in transporting Iranian oil and petrochemical products in support of the National Iranian Oil Company.
