Washington, Oct 12 (V7N) — The United States has announced new sanctions targeting Iran's oil sector , following recent missile attacks on Israel . The sanctions, imposed jointly by the US Treasury and State Department , focus on companies and vehicles linked to Iran's oil trade and transportation, seen as key funding sources for Iran's ballistic missile and nuclear programs.

This move comes in response to Iran's October 1 missile strike on Israel, where over 180 ballistic missiles were launched. Iran stated the attack was in retaliation for the deaths of Hezbollah chief Hassan Nasrallah and Hamas leader Ismail Haniya .

Washington emphasized that Iran’s oil and petrochemical sectors play a significant role in financing its ballistic missile and nuclear programs , prompting the inclusion of these industries in the new sanctions. The US government indicated that Friday’s actions open the possibility for more sanctions against Tehran, further increasing pressure on Iran amidst the ongoing tensions in the Middle East.

END/RH/AJ