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US Prepares New Sanctions On Iranian Oil Exports

OIL

A White House official has confirmed an earlier Bloomberg report suggesting that the US is preparing fresh sanctions on Iranian oil exports.

  • Reuters: "The sanctions are expected to focus on entities facilitating the oil trade, and will be part of a broader plan to step up sanctions on Iran in coming weeks."
  • The new raft of sanctions are likely in response to drone and artillery strikes this week on Kurdish targets in Iraq, conducted by the Iranian Revolutionary Guards Corps.
  • Sanction are also likely part of a broader package of measures intended to put pressure of the administration of hardline Iranian President Ebrahim Raisi to moderate its response to protests which have broken out across the country following the death of Mahsa Amini while in custody of the Iranian "morality police."
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