Chinese and Emirati… US sanctions against 13 companies that “facilitated the sale of Iranian oil”

On Thursday, the United States imposed sanctions on 13 companies based in China, Hong Kong and the United Arab Emirates, which Washington accused of facilitating the sale of Iranian petrochemicals and petroleum products to buyers in East Asia.

The latest US moves against Iranian oil smuggling come amid stalled efforts to revive the 2015 Iran nuclear deal and strained relations between the Islamic Republic and the West as Iranians continue to protest against their government.

Washington has increased its targeting of Chinese companies regarding the export of Iranian petrochemicals, with the diminishing prospects of reviving the nuclear deal.

The US Treasury Department said in a statement that the 13 companies targeted today, Thursday, facilitated the sale of hundreds of millions of dollars worth of Iranian petrochemicals and oil derivatives to buyers in East Asia on behalf of companies subject to US sanctions, including the National Iranian Oil Company and Trillance Petrochemical Company.

“Today’s action further demonstrates the sophisticated sanctions-busting tactics Iran uses for the illicit sale of petroleum and petrochemical products,” Brian Nelson, the Treasury’s undersecretary for terrorism and financial intelligence, said in the statement.

“The United States will continue to implement sanctions against those facilitating these sales,” he added.

Iran’s mission to the United Nations in New York did not immediately respond to a Reuters request for comment, according to the agency.

Among the targeted companies are Emirati companies and others based in Hong Kong, which the Treasury Department has accused of being linked to Trillance Petrochemical Company. The measure was aimed at what Washington says is the Hong Kong-based company’s circumvention of US sanctions.

Also among those targeted is Dubai-based Access Technology Trading, which the Treasury Department has accused of buying petrochemicals from the Persian Gulf Petrochemical Industries Company, which is subject to US sanctions, for tens of millions of dollars for shipping to China.

The sanctions also targeted the China-based East Asian Trade, Import and Export Corporation. This company is accused by Washington of facilitating a shipment of oil to a foreign customer for the National Iranian Oil Company and its marketing arm.

Reuters could not immediately reach the companies for comment.

Thursday’s action freezes any US assets of the targeted companies and generally bars Americans from doing business with them. Those who deal with these companies themselves are subject to penalties as well.

Leave a Comment

Your email address will not be published. Required fields are marked *