ISLAMABAD: The United States on Thursday announced sweeping sanctions targeting shipping and aviation networks tied to Iran&rsquo;s petroleum trade, explicitly naming entities operating &ldquo;in several countries, including, but not limited to India, Panama, and the Seychelles,&rdquo; according to a State Department statement.&nbsp;The State Department said it designated 17 entities, individuals and vessels, while the Treasury Department simultaneously listed 41 entities, individuals, vessels and aircraft for allegedly helping channel funds to Iran&rsquo;s &ldquo;malign activities through illicit oil sales.&rdquo;&nbsp;The statement warned that revenue from these networks is used to support &ldquo;Iran&rsquo;s regional terrorist proxies and procure weapons systems that pose a direct threat to US forces and our allies.&rdquo;&nbsp;&ldquo;We will use all the tools at our disposal to hold the regime accountable,&rdquo; the release said, stressing that actions are being taken under National Security Presidential Memorandum 2, which directs &ldquo;maximum pressure on the Iranian regime.&rdquo;&nbsp;Iran says West pursuing &lsquo;escalation&rsquo; after new IAEA resolutionReacting a day later, Iranian Foreign Minister Abbas Araghchi accused the US and three European powers of triggering a fresh confrontation after the International Atomic Energy Agency (IAEA) passed a resolution demanding &ldquo;full and prompt&rdquo; cooperation from Tehran, including access to sensitive nuclear sites.&nbsp;&ldquo;Given that the E3 and the US seek escalation, they know full well that the official termination of the Cairo Agreement is the direct outcome of their provocations,&rdquo; Araghchi posted on X.&nbsp;He added that the agreement, reached in September to guide cooperation with the IAEA, was now &ldquo;null and void&rdquo; following the new resolution.&nbsp;Araghchi said Western actions had &ldquo;killed&rdquo; the framework much like &ldquo;the diplomacy which was assaulted by Israel and the US in June,&rdquo; referencing the mid-June conflict in which Israel launched an &ldquo;unprecedented bombing campaign&rdquo; and the United States &ldquo;briefly joined with strikes on key Iranian nuclear facilities.&rdquo;&nbsp;He argued earlier that any access for inspectors to sites hit during the war depended on reaching a &ldquo;new understanding,&rdquo; saying the latest IAEA move was &ldquo;disrupting the process of interactions and cooperation.&rdquo;&nbsp;With additional inputs from AFP

Asia

US sanctions India-linked networks in Iran’s oil trade as Tehran slams Western powers for “escalation” after a new IAEA resolution renders the Cairo cooperation agreement void.

Articles tagged with "International Atomic Energy Agency"

India-linked entities flagged as US tightens curbs on Iran oil trade