The US has imposed sanctions against 11 companies that promote the export of Iranian oil

The companies are accused of facilitating the sale of oil and petroleum products from Iran in circumvention of US sanctions.

The United States on Thursday imposed sanctions on 11 foreign companies suspected of facilitating the export of oil, petroleum products, and petrochemicals from Iran in violation of US sanctions.

The Ministry of Finance announced the imposition of sanctions against six companies based in Iran, the United Arab Emirates, and China. According to the Ministry, these companies provide transportation and sale of Iranian petrochemicals and support the Hong Kong company Triliance Petrochemical, which is under sanctions from the United States.

The State Department also imposed sanctions on five companies for participating in transactions related to Iran’s oil and petrochemical industry. The sanctions list also includes three heads of these companies.

“Our actions today confirm the firm intention of the United States to deprive the Iranian regime of the financial resources necessary to incite terrorism and other destabilizing actions,” said US Secretary of State Mike Pompeo.

The sanctions provide for freezing the assets of these companies in the United States and prohibit American citizens from doing business with them.

The sanctions hit the Iranian company Zagros Petrochemical, which, according to the Ministry of Finance, agreed to sell Triliance hundreds of thousands of tons of Iranian petrochemicals this year.

In January, Hong Kong-based broker Triliance was sanctioned for transferring the equivalent of a million dollars to National Iranian Oil Co as payment for Iranian oil products.

The Ministry of Finance also includes companies from the UAE Petrotech and Trio Energy, Hong Kong’s Jingho Technology, and Dynapex Energy, as well as China’s Dinrin, which act as front companies for Triliance and Zagros.

“The Iranian regime uses the proceeds from the sale of petrochemical products to Finance terrorism and pursue a destabilizing foreign agenda,” Treasury Secretary Steven Mnuchin recalled.

Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor