Iran's oil industry subject to "counter-terrorism" laws; US sanctions Zanganeh

The United States Treasury Department announced on Monday, November 25, that it has imposed new sanctions against officials and entities of the Islamic Republic of Iran in the oil industry, subjecting them to "combating terrorism" laws.

Bijan Namdar Zanganeh, Iran's Oil Minister, has also been added to the US sanctions list.

The US Treasury Department statement said that Washington's new sanctions are aimed at increasing pressure on parts of the Islamic Republic regime that have played a key role in supporting and supporting the IRGC's Quds Force.

US Treasury Secretary Steven Mnuchin said in the statement: "The Iranian regime has exploited the oil and gas sector to fund the destabilizing activities of the Islamic Revolutionary Guard Corps' Quds Force."

The statement states that due to the support of the Quds Force of the Islamic Revolutionary Guard Corps, the named individuals and entities are subject to the provisions of Executive Order No. 13224.

This executive order was signed on September 23, 2001, by then-US President George W. Bush, under which Washington can place individuals and entities involved in "terrorist financing" on a sanctions list.

Based on these sanctions, the assets and potential profits of these individuals in the United States will be frozen, and American citizens and companies will be prohibited from doing direct or indirect business with these individuals.

Bijan Namdar Zanganeh reacted to the news of his sanctions by the United States on Monday evening, writing on his Twitter page: "The sanctions on me and my colleagues are a passive response to the failure of Washington's policy to reduce oil exports to zero."

Mr. Zanganeh added that "the era of unilateralism in the world has ended. Iran's oil industry will not collapse."

Iran's oil minister has claimed that "I have no assets outside Iran that would be subject to sanctions."

In addition to the Oil Minister, the National Iranian Oil Company, and the National Iranian Tanker Company, a number of other figures and institutions of the Islamic Republic have been added to the list of new US sanctions.

Accordingly, all assets belonging to the named entities and individuals in the United States will be frozen, and Americans will generally be prohibited from conducting any transactions with them.

Placing Iran's oil industry under the "combat terrorism" law makes it difficult to potentially lift sanctions in the future because it must be proven that Iran is not involved in terrorist activities.

If Democratic candidate Joe Biden wins the US presidential election on November 3, his hands will be tied for any possible early agreement with Iran.

Mahmoud Madanipour, an Iranian businessman named as a fuel broker, and the United Arab Emirates-based Mobin International are facing sanctions from the US Treasury Department, according to Reuters. Both are accused of collaborating with the government of Nicolas Maduro in Venezuela and circumventing sanctions.

US government officials announced in May of this year that the Iranian government would receive gold in exchange for selling gasoline and helping to rebuild Venezuelan refining equipment.

Meanwhile, among the individuals added to the US Treasury Department's recent sanctions list are Masoud Karbasian, the current CEO of the National Iranian Oil Company, Behzad Mohammadi, CEO of the National Petrochemical Company, Ali Akbar Pourabrahim, CEO of the Iranian Oil Trading Company, and Alireza Sedighabadi, CEO of the National Iranian Oil Refining and Distribution Company.

Two other Iranian nationals, including Nasrollah Sardashti, CEO of the National Iranian Tanker Company, and Viaan Zanganeh, have also been placed on the list of sanctioned individuals due to their ties to the IRGC's Quds Force.

Elliott Abrams, the US envoy for Iran and Venezuela, stated in an interview with the National newspaper on Monday that even if Joe Biden wins the presidential election on November 3, he will not be able to lift the sanctions imposed on Tehran anytime soon.

He emphasized that the structure of sanctions imposed against the Iranian regime is so "comprehensive" and "established" that it is not possible to overcome it in the short term.

The United States withdrew from the six-power agreement with Iran in May 2018 and has since imposed severe sanctions on various military, political, and economic sectors of Iran.

The scope of these sanctions even includes Ayatollah Ali Khamenei, the leader of the Islamic Republic, and his subordinate institutions.

Source: Radio Farda