US sanctions companies in UAE, China over Iranian petrochemical sales
A slew of new sanctions in Trump administration's final weeks could complicate Biden's pledge to rejoin the Iranian nuclear agreement.
The Trump administration on Wednesday issued a new round of Iran-related sanctions, targeting four companies based in China and the United Arab Emirates accused of facilitating the export of Iranian petrochemical products.
According to the US Treasury Department, the blacklisted companies provided Hong Kong-based Triliance Petrochemical with shipping services or financial transactions. Triliance itself was designated in January 2020 for alleged involvement in the sale of Iranian petrochemicals, crude oil and petroleum products.
“Iran’s petrochemical and petroleum sectors are primary sources of funding for the Iranian regime, which it uses to support its malign domestic and foreign agenda,” Treasury Secretary Steven Mnuchin said in a statement. “The United States will act against persons who support illicit actors engaged in the movement of Iranian petroleum and petrochemical sales.”
The designated entities are China-based Donghai International Ship Management, China-based Petrochem South East, UAE-based Alpha Tech Trading and UAE-based Petroliance Trading. In addition, the United States imposed sanctions on Vietnam Gas and Chemicals Transportation Corp. "in connection with significant transactions for the transport of petroleum products from Iran.”
