The Biden administration has announced a new round of sanctions against Iran, vowing to impose financial penalties on a regular basis in an effort to severely restrict Iranian oil and petrochemical exports.
The measures announced target several firms and front companies based in China, the United Arab Emirates, Hong Kong, and India that the United States accuses of involvement in the sale of Iranian petroleum and petrochemical products.
The administration of US President Joe Biden also explicitly linked the sanctions to the failure to revive the 2015 Iran nuclear deal, formally known as the Joint Comprehensive Plan of Action.
Treasury Department official Brian Nelson says the United States is committed to severely restricting Iran’s illicit oil and petrochemical sales.