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


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March 2, 2023 WASHINGTON — The State Department on Thursday announced new sanctions related to Iran’s petroleum and petrochemical trade, in an effort to crack down on the country's energy exports. The department designated six entities, including shipping and petrochemical companies, that it accused of engaging in the transport or sale of Iranian petroleum or petrochemical products. The targets are located in Iran, China, Vietnam and the United Arab Emirates. 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...