US Goverment recently imposed sanctions on 11 companies for reportedly enabling the shipment and sale of Iranian petrochemicals.
Namely, the Department of State imposed sanctions on five entities under section 3(a)(ii) of Executive Order (E.O.) 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran.
What is more, the department sanctioned three individuals who are principal executive officers of the sanctioned entities.
Our actions today reaffirm the United States’ commitment to denying the Iranian regime the financial resources it needs to fuel terrorism and other destabilizing activities. We call on the regime yet again to stop undermining the Iranian people’s prosperity by exploiting Iran’s natural resources to sow chaos and destruction.
…the Department of State commented.
At the same time, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated six entities for their support to Triliance Petrochemical Co. Ltd. (Triliance), an entity designated by Treasury in January 2020, and related activities.
The Iranian regime uses revenue from petrochemical sales to continue its financing of terrorism and destabilizing foreign agenda.The Trump administration remains committed to targeting those contributing to Iran’s attempts to evade U.S. sanctions by facilitating the illicit sale of Iranian petroleum products around the world.
For the records, US sanctioned: Iran-based Abadan Refining Company; China based Zhihang Ship Management CO Ltd., New Far International Logistics LLC and Sino Energy Shipping Ltd.; and United Arab Emirates (UAE) based Chemtrans Petrochemicals Trading LLC.
The individuals sanctioned are: Min Shi, employee of New Far; Zuoyou Lin, employee of Sino Energy; and Alireza Amin, employee of Abadan.
Concluding, the entities sanctioned by the Department of the Treasury are: Iranian company Zagros Petrochemical Company; UAE-based Petrotech FZE (located in the Hamriya Free Zone, Sharjah, UAE) and Trio Energy DMCC; and Hong Kong-based Chinese entities Jingho Technology Co. Limited, Dynapex Energy Limited, and Dinrin Limited.
