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7/6, 7:39 PM (Source: TeleTrader)
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US introduces new sanctions on Iranian oil

United States Treasury announced on its website on Wednesday that it will be implementing new sanctions against Iran, which will further hit the latter's energy sector.

A number of Iranian energy companies, including Persian Gulf Star Oil Corporation, Ali AlMutawa Petroleum Corporation, Petrogat FZE and Petrokick LLC have been added to the Treasury's sanctioned list, alongside other entities and individuals.

The decision comes amid the continuing negotiations between the two countries over the revival of the Iranian nuclear deal, which have so far been inconclusive. The US previously warned that it will continue to sanction Iran in order to pressure Tehran.

Baha Breaking News (BBN) / AY