The US Treasury Department said that the United States expanded sanctions on the Iranian oil and petrochemical sectors on Friday in response to the missile attack launched by Tehran on Israel.

“This action increases financial pressure on Iran, limiting the regime’s ability to use revenues from vital energy sources to undermine stability in the region and target U.S. partners and allies,” the ministry added in a statement.

The order would include the oil and petrochemical sectors 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 programs.

The statement said that the Treasury Department also designated 16 entities and 17 vessels as blocked property for their use in transporting Iranian petroleum and petrochemical products in support of the National Iranian Oil Company.

Source: Maan News Agency