US announces new sanctions on Iranian oil sector after series of rocket attacks on Israel

washington - The US government announced new sanctions on the Iranian oil sector to prevent Iran from using its oil revenues for funding 'deadly and destabilizing activities', including the development of its nuclear program.

The sanctions are aimed at preventing Iran from using its oil revenues for funding 'deadly and destabilizing activities', including the development of its nuclear program, stated Treasury Secretary Janet Yellen.

The Treasury Department announced that the US has imposed sanctions on seventeen ships and ten companies with ties to Iran's 'ghost fleet' of tankers.

This fleet consists of ships involved in selling Iranian oil to evade existing sanctions. The US 'will not hesitate to take further steps to hold Iran accountable,' said Yellen.

In early October, Iran fired about two hundred rockets at Israel in response to deadly Israeli attacks on leaders of Hezbollah and Hamas. Many rockets were intercepted and the damage was limited.