Iran’s oil, petrochemical trade hit with new US sanctions


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March 2, 2023 WASHINGTON — The Biden administration announced a batch of new sanctions Thursday aimed at curbing Iran’s energy exports. The department added six shipping companies and petrochemical manufacturers to its sanctions blacklist. The designated firms, which are located in Iran, China, Vietnam and the United Arab Emirates, are accused of engaging in the transportation or sale of Iranian petroleum or petrochemical products. Iran’s oil sector has been under heavy US sanctions since former President Donald Trump withdrew from the nuclear agreement in 2018. Absent a revived pact, the Biden administration has pledged to step up its use of...