Iran's oil, petrochemical trade hit with new US sanctions

Elizabeth Hagedorn

Mar 2, 2023

The Iranian-flagged oil tanker Fortune is docked at the El Palito refinery after its arrival to Puerto Cabello in the northern state of Carabobo, Venezuela, on May 25, 2020. - The first of five Iranian tankers carrying much-needed gasoline and oil derivatives docked in Venezuela on Monday, Caracas announced amid concern in Washington over the burgeoning relationship between countries it sees as international pariahs. (Photo by AFP) (Photo by -/AFP via Getty Images) — The Iranian-flagged oil tanker Fortune is docked at the El Palito refinery after its arrival to Puerto Cabello in the northern state of Carabobo, Venezuela, on May 25, 2020. — AFP via Getty Images

WASHINGTON — The Biden administration announced a batch of new sanctions Thursday aimed at curbing Iran’s energy exports.

The department added six shipping companies and petrochemical manufacturers to its sanctions blacklist, as well as 20 affiliated shipping vessels. The designated firms, which are located in Iran, China, Vietnam and the United Arab Emirates, are accused of helping transport or sell Iranian petroleum or petrochemical products.