Iran condemns 'illegal and unjustified' US sanctions on oil industry

Iran’s Parliament Speaker Mohammad Bagher Ghalibaf (second left) and his Lebanese counterpart Nabih Berri (left) after a meeting in Beirut on October 12, 2024. [AFP]

Iran condemned Sunday what it called an "illegal and unjustified" expansion of US sanctions targeting its oil industry following Tehran's missile attack on Israel earlier this month.

In a statement, foreign ministry spokesman Esmail Baghaei defended Iran's attack on Israel and "strongly condemned" the sanctions, saying they were "illegal and unjustified."

The United States on Friday slapped Iran with a spate of new sanctions on the country's oil and petrochemical industry in response to Tehran's October 1 attack against Israel.

Baghaei defended Iran's attack on Israel as being legal and insisted on Iran's right to respond to the new sanctions.

The US Treasury Department said it targeted Iran's so-called shadow fleet of ships involved in selling Iranian oil in circumvention of existing sanctions.

It said it had designated at least 10 companies and 17 vessels as "blocked property" over their involvement in shipments of Iranian petroleum and petrochemical products.

The State Department also announced it was placing sanctions on six further firms and six ships for "knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran."

Baghaei said "the policy of threats and maximum pressure" had no impact on "Iran's will to defend its sovereignty, territorial integrity, national interests and citizens against any violation and foreign aggressions."

He said the sanctions would enable Israel "to continue killing innocents and pose a threat to the peace and unity of the region and the world."

The new wave of sanctions comes as the world awaits Israel's promised response to Tehran's missile attack, with oil prices hitting their highest levels since August.

Earlier this month, US President Joe Biden advised Israel against targeting oil infrastructure in Iran, one of the world's 10 largest producers.

Iran's foreign minister, Abbas Araghchi last Tuesday warned that "any attack against infrastructure in Iran will provoke an even stronger response."