President Trump: Imposed sanctions on Iranian oil yesterday; those who take oil from Iran cannot do business with the US

President Trump: Imposed sanctions on Iranian oil yesterday; those who take oil from Iran cannot do business with the US

The United States has imposed sanctions on entities involved in the illicit trade of Iranian oil and petrochemicals, despite ongoing nuclear talks with Iran. The move, announced on Wednesday, is part of President Donald Trump's "maximum pressure campaign" on Iran [2].

The sanctions target eight entities and eight vessels, including Kangan Petro Refinery Company, Cosmos Lines Inc, Alkonost Maritime DMCC, Austinship Management Private Limited, Oceanend Shipping Ltd, IMS Ltd, and Octane Energy Group FZCO [2]. The U.S. Department of State cited the need to stem the flow of revenue that Iran uses to fund its destabilizing activities, such as its nuclear program and support for terrorist groups [2].

The sanctions come just days after Iran announced a fourth round of talks with the U.S. in Rome, scheduled for Saturday. The talks, mediated by Oman, aim to resolve the nuclear dispute through diplomacy [1]. However, a senior Iranian official stated that the U.S. sanctions are not helping to resolve the nuclear dispute and that the date of the next round of talks will depend on the U.S. approach [1].

The U.S. has been bombing the Houthis in Yemen since mid-March, hitting more than 1,000 targets. Iran has accused the U.S. of contradictory behavior and provocative statements, warning that it will continue to support the Houthis [1]. The U.S. has also threatened to attack Iran unless it agrees to a new deal, with both sides describing the previous rounds of talks as productive [1].

The sanctions imposed on Wednesday are in line with Executive Order 13846, which blocks all property and interests in property of the designated persons in the U.S. or in possession or control of U.S. persons. The sanctions also prohibit contributing or providing funds, goods, or services to the blocked entities [2].

References:
[1] https://www.reuters.com/world/middle-east/us-iran-talks-postponed-new-date-depends-us-approach-iranian-official-says-2025-05-01/
[2] https://www.jpost.com/middle-east/article-843619