The US Government has announced new sanctions targeting Iran's petroleum and petrochemical sectors following the country's missile strike on Israel, reported the Economic Times.

The move aims to curtail the Iranian regime's access to resources that could fund its destabilising activities in the region.

US State Department spokesperson Matthew Miller stated: "We are announcing broad new sanctions on Iran's petroleum and petrochemical sectors to further deny the Iranian regime the resources it may use to fund its destabilising activities”.

The Department of State has sanctioned six entities and identified six vessels as blocked property for engaging in the Iranian petroleum trade.

Additionally, the Department of the Treasury, in consultation with the State Department, will issue sanctions on individuals determined as operating in Iran's petroleum or petrochemical sectors.

The Treasury Department has also sanctioned ten entities and blocked 17 vessels for their involvement in transporting Iranian petroleum and petrochemical products, particularly in support of the National Iranian Oil Company and Triliance Petrochemical.

US Secretary of State Antony Blinken said: "In the aftermath of Iran's unprecedented October 1 attack against Israel, the United States made clear that we would impose consequences on Iran for its actions. To that end, we are taking steps today to disrupt the flow of revenue the Iranian regime uses to fund its nuclear programme and missile development, support terrorist proxies and partners, and perpetuate conflict throughout the Middle East."

Previously, Israel had also planned a large-scale strike on Iran’s oil infrastructure in response to a missile attack on the Jewish state.