US expands sanctions list

The US has added a new layer to its sanctions against Iran. In a statement released by the US Department of State, it was announced that "the US is imposing sanctions on 6 entities and 4 vessels for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum, petroleum products, or petrochemical products from Iran."

The statement noted, "As a result of today's actions and pursuant to Executive Order 13846, all property and interests in property of the designated persons that are in the United States or in the possession or control of US persons are blocked."

Unless authorized by a general or specific license issued by the Department of the Treasury's Office of Foreign Assets Control (OFAC), or otherwise exempt, all transactions by US persons or within the United States that involve any property or interests in property of designated or otherwise blocked persons are prohibited.

These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior," the statement concluded.