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US Set to Sanction Iranian Oil Exports

OIL

US officials have confirmed Bloomberg reports that the US is planning to announce sanctions targeting Iran’s oil exports.

  • The sanctions will focus on entities facilitating the oil trade and will be part of broader plan to step up sanctions on Tehran 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.
  • Sanctions 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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