<span>Iran’s oil trade hit with new round of US sanctions </span>

Al-Monitor | Aug 1, 2022 at 7:50 PM
  • The Biden administration issued a new round of sanctions Monday targeting the sale of Iranian oil and petrochemical products to East Asia, dialing up the pressure on Iran to resume compliance with the tattered nuclear agreement.
  • Why it matters: The crackdown on Iran’s oil revenue comes as efforts to restore the nuclear agreement, the Joint Comprehensive Plan of Action (JCPOA), have reached an impasse.
  • Monday’s sanctions marked the third time the Biden administration has imposed penalties on Iran’s oil trade since indirect negotiations to revive the nuclear deal broke down in March.