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Al Jazeera
Al Jazeera
Business
Al Jazeera Staff

With new sanctions, US vows to ‘severely restrict’ Iran oil sales

Iran Joe Biden Oil Washington D.C. Tehran
Washington says it will continue to enforce sanctions as long as Iran 'refuses' to return to the Joint Comprehensive Plan of Action (JCPOA) [File: Michael Gruber/AP Photo]

Washington, DC – The Biden administration has announced a new round of sanctions against Iran, vowing to impose financial penalties on a “regular basis” in an effort to “severely restrict” Iranian oil and petrochemical exports.

The measures announced on Thursday target several firms and “front companies” based in China, the United Arab Emirates, Hong Kong and India that the United States accuses of involvement in the sale of Iranian petroleum and petrochemical products.

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