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US Issues Fresh Iran-Related Sanctions Targeting State Oil Sector

US Treasury Secretary Steven Mnuchin. (Reuters)
US Treasury Secretary Steven Mnuchin. (Reuters)
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US Issues Fresh Iran-Related Sanctions Targeting State Oil Sector

US Treasury Secretary Steven Mnuchin. (Reuters)
US Treasury Secretary Steven Mnuchin. (Reuters)

The United States on Monday imposed fresh Iran-related sanctions targeting the country’s oil sector, including the Iranian Ministry of Petroleum, in Washington’s latest action to increase pressure on Tehran.

The US Treasury Department in a statement said it was slapping sanctions on key actors in Iran’s oil sector for supporting the Quds Force, the foreign paramilitary and espionage arm of the Revolutionary Guard Corps blacklisted by the United States.

“The regime in Iran uses the petroleum sector to fund the destabilizing activities of the IRGC-QF,” Treasury Secretary Steven Mnuchin said in the statement.

Tensions between Washington and Tehran have soared since Trump unilaterally withdrew in 2018 from the Iran nuclear deal struck by his predecessor President Barack Obama and began reimposing US sanctions that had been eased under the accord.

The minister of petroleum, the National Iranian Oil Company (NIOC) and National Iranian Tanker Company were also blacklisted alongside other individuals and entities in Washington’s move on Monday, which freezes any US assets of those blacklisted and generally bars Americans from dealing with them.

The Treasury also imposed sanctions on Mahmoud Madanipour and United Arab Emirates-based Mobin International Limited, accusing them of entering into an agreement with Venezuelan state-owned Petroleos de Venezuela (PDVSA) to ship gasoline obtained from NIOC to the government of Venezuelan President Nicolas Maduro.

The British-based companies of Madanipour, Mobin Holding Limited and Oman Fuel Trading Ltd were also blacklisted.

Mobin International and Oman Fuel have said they were the owners of the cargo aboard several tankers confiscated by US authorities in August.

The US Justice Department said the cargo was destined for Venezuela, whose oil industry is also under US sanctions, but the companies denied in court filings that Venezuela was the destination.

Iran has sent two other flotillas carrying fuel to gasoline-short Venezuela, and they entered the South American country without US interference.

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Russia Condemns ‘Irresponsible’ Talk of Nuclear Weapons for Ukraine

Kremlin spokesman Dmitry Peskov attends a press conference of Russian President Vladimir Putin speaks at the BRICS summit in Kazan, Russia October 24, 2024. (Reuters)
Kremlin spokesman Dmitry Peskov attends a press conference of Russian President Vladimir Putin speaks at the BRICS summit in Kazan, Russia October 24, 2024. (Reuters)
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Russia Condemns ‘Irresponsible’ Talk of Nuclear Weapons for Ukraine

Kremlin spokesman Dmitry Peskov attends a press conference of Russian President Vladimir Putin speaks at the BRICS summit in Kazan, Russia October 24, 2024. (Reuters)
Kremlin spokesman Dmitry Peskov attends a press conference of Russian President Vladimir Putin speaks at the BRICS summit in Kazan, Russia October 24, 2024. (Reuters)

Discussion in the West about arming Ukraine with nuclear weapons is "absolutely irresponsible", Kremlin spokesman Dmitry Peskov said on Tuesday, in response to a report in the New York Times citing unidentified officials who suggested such a possibility.

The New York Times reported last week that some unidentified Western officials had suggested US President Joe Biden could give Ukraine nuclear weapons before he leaves office.

"Several officials even suggested that Mr. Biden could return nuclear weapons to Ukraine that were taken from it after the fall of the Soviet Union. That would be an instant and enormous deterrent. But such a step would be complicated and have serious implications," the newspaper wrote.

Asked about the report, Peskov told reporters: "These are absolutely irresponsible arguments of people who have a poor understanding of reality and who do not feel a shred of responsibility when making such statements. We also note that all of these statements are anonymous."

Earlier, senior Russian security official Dmitry Medvedev said that if the West supplied nuclear weapons to Ukraine then Moscow could consider such a transfer to be tantamount to an attack on Russia, providing grounds for a nuclear response.

Ukraine inherited nuclear weapons from the Soviet Union after its 1991 collapse, but gave them up under a 1994 agreement, the Budapest Memorandum, in return for security assurances from Russia, the United States and Britain.

Ukrainian President Volodymyr Zelenskiy said last month that as Ukraine had handed over the nuclear weapons, joining NATO was the only way it could deter Russia.

The 33-month Russia-Ukraine war saw escalations on both sides last week, after Ukraine fired US and British missiles into Russia for the first time, with permission from the West, and Moscow responded by launching a new hypersonic intermediate-range missile into Ukraine.

Asked about the risk of a nuclear escalation, Peskov said the West should "listen carefully" to Putin and read Russia's newly updated nuclear doctrine, which lowered the threshold for using nuclear weapons.

Separately, Russian foreign intelligence chief Sergei Naryshkin said Moscow opposes simply freezing the conflict in Ukraine because it needs a "solid and long-term peace" that resolves the core reasons for the crisis.