The United States lifted sanctions against Iran’s oil and petrochemical sectors on Friday in response to the country’s missile attack on Israel, the Treasury Department said.
“This action increases financial pressure on Iran, limiting the regime’s ability to earn critical energy revenues aimed at undermining stability in the region and attacking U.S. partners and allies,” the Treasury Department said in a statement. “
Israel has promised to respond to a missile attack by Iran on October 1, in retaliation for Israeli attacks in Lebanon and the Gaza Strip and the killing of a Hamas leader in Iran.
The new measure adopted by the US adds the oil and petrochemical sectors to the decree that targets vital centers of the Iranian economy. The goal is to prevent the Iranian government from obtaining resources that help fuel the country’s nuclear and missile program.
The statement revealed that the measure allows Treasury to impose sanctions on “any individuals determined to work in the oil and petrochemical sectors of the Iranian economy.”
US President Joe Biden said Israel should explore alternatives to a simple attack on Iran’s oil fields. Sources in the region told Reuters that Persian Gulf countries are worried that their own installations could be attacked by Tehran’s allies if the conflict escalates.
