Skip to content

Biden Administration Readies New Sanctions Targeting Iran’s Oil Exports

  • Treasury says the move targeted a network of companies
  • The move is part of a broader plan to ramp up Iran sanctions
Updated on

The US imposed sanctions on a Chinese crude-oil storage operator and nine other entities accused of violating restrictions on Iranian oil exports, as the Biden administration looks for ways to sever a financial lifeline and press Tehran to return to the 2015 nuclear deal.

The sanctions targeted Zhonggu Storage and Transportation Co. Ltd., a company that “provides a vital conduit for the Iranian petroleum trade,” the State Department said in a statement. Nine other entities from China, Hong Kong, Iran, India and the United Arab Emirates were also targeted, it said.