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‘Tariffs for Terror’ – US mulls new sanctions targeting Iranian oil

New bill introduced to the US Senate would impose tariffs on countries which purchase Iranian oil.

By World Israel News Staff

A new bill taken up by the U.S. Senate would extend sanctions on Iran’s oil industry to countries purchasing fuel from Iran, in a move dubbed “Tariffs for Terror.”

South Carolina Senator Lindsey Graham introduced legislation last Thursday, which according to a statement released by his office would “hold countries accountable for financially supporting Iran.”

“During the Trump Administration, Iranian crude exports dropped as low as 300,000 barrels per day,” Graham’s office wrote. “Yet according to United Against Nuclear Iran, under the Biden Administration, Iran exported nearly 1.4 million barrels of oil a day in October 2023 alone.”

If passed, the bill would require the White House to identify countries that purchase, trade, consume or import crude oil or petroleum products from Iran and subsequently impose tariffs on products imported into the U.S. from those countries.

“After many discussions with President Trump, I’m introducing legislation to impose tariffs on countries that purchase petroleum products from Iran,” said Graham.

“It is long past time to make those that enrich this terrorist regime pay a price, and there’s no better price than tariffs on products coming into the United States. On day one, President Trump will re-impose maximum pressure on Iran. Tariffs on countries that empower terrorism and the Ayatollah is a good place to start.”

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The bill itself cites Iran’s role in supporting terrorism and repeatedly targeting the United States and Israel.

“Since the Iranian Revolution in 1979, the Islamic Republic of Iran has engaged in acts of international terrorism and continuously threatened the U.S., Israel and other allies and partners of the United States.”

Graham also noted Tehran’s efforts to manufacture nuclear weapons, and recent comments by Secretary of State Antony Blinken warning that Iran’s nuclear program is now potentially one to two weeks away from being able to produce enough weapons grade uranium to build a nuclear weapon.