"This action intensifies financial pressure on Iran, limiting the regime’s ability to earn critical energy revenues to undermine stability in the region and attack U.S. partners and allies," the Treasury Department said in a statement.

The Biden administration on Friday expanded sanctions against Iran's oil and petrochemical industries in response to Tehran's Oct. 1 ballistic missile attack on Israel.

The United States hit Iran's oil and petrochemicals sectors with new sanctions Friday in response to Tehran's October 1 attack against Israel, designating dozens of new companies and firms.

Crude oil futures fell slightly on Friday but posted their second straight weekly gain in volatile trading marked by fluctuating expectations over Israel's planned response to last week's large-scale missile attack by Iran,