Free Trial

US Ready Bill to Help Fund It's Sanctions on Iranian Oil


US senators, both Republican and Democrat, are readying legislation to help the federal government enforce sanctions on Iran according to Reuters reports from Republican Senator Joni Ernst.

  • The bill, expected to be released Monday will provide $150 million in enforcement funds – with a priority on Iranian petroleum sanctions.
  • US measures to seize Iranian cargoes have been limited since 2019 and the cost of operations is high.
  • US lawmakers face pressure to target Iran over any possible connection to the recent Hamas attack in Israel.
  • The latest seizure by the Justice Department in April was a cargo carried by the Suez Rajan tanker with 1mn bbls of Iranian oil headed for China.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.