Shafaq News/ The US TreasuryDepartment announced on Thursday the first sanctions under President DonaldTrump targeting individuals and oil tankers that "facilitate the shipmentof millions of barrels of Iranian crude to China annually."
The department’s statement explainedthat this oil network generates hundreds of millions of dollars for the Iranianmilitary, as "Tehran earns billions of dollars each year from oil sales tofund its activities and support groups like Hamas, the Houthis, and Hezbollah."
The Treasury added the oil isshipped on behalf of the Iranian Armed Forces General Staff (AFGS) and itssanctioned front company, Sepehr Energy Jahan Nama Pars (Sepehr Energy).
Treasury Secretary Steven Mnuchinemphasized Tehran continues to use its oil revenues to fund its nuclear programand ballistic missile production, reiterating “Washington's commitment totargeting any efforts by Iran to secure funding for these activities.”
The move comes after President Trumppledged earlier this week to reduce Iranian oil exports.
Iran has warned that unilateralsanctions on crude oil producers would destabilize global energy markets.
Iranian President Masoud Pezeshkiandownplayed the impact of the sanctions, suggesting that "Americans thinkIran's entire economy depends on oil, so they want to halt its exports,"adding that "there are many ways to thwart their objectives."
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