US imposes new sanctions on Iranian oil network

The US announced new sanctions Thursday targeting shipping and aviation networks allegedly engaged in Iran's illicit petroleum trade, according to a statement by the State Department.

The coordinated action by the Departments of State and the Treasury seeks to cut off revenue streams Washington says are used to fund the Iranian government's malign activities, including support for regional proxies and procurement of weapons systems that allegedly threaten US forces and allies.

The State Department said it designated 17 entities, individuals and vessels in several countries — including India, Panama and the Seychelles — for their alleged roles in facilitating Iranian petroleum and petroleum products sales.

The Treasury Department imposed sanctions on 41 additional entities, individuals, vessels and aircraft, intensifying efforts to disrupt what it described as Iran's illicit petroleum and petrochemical exports and the financial networks that allegedly sustain them, according to the statement.