US Sanctions Several Petrochemical Industry Intermediaries and Seizes Iranian Missile and Oil Shipments
The US Treasury Department has sanctioned several individuals and companies based in Iran, China, and Singapore in connection with Iran’s petrochemical industry. The US Department of Justice also announced the seizure of Iranian missiles destined for Yemen and oil destined for Venezuela.
On Thursday, November 8 (October 29), the US government targeted several companies based in Iran, China, and Singapore with strict sanctions due to their role in buying and selling Iranian petrochemical products and acting as intermediaries in this field.
With five days remaining before the US presidential election on November 3, this appears to be the Trump administration’s final step to intensify maximum pressure on the Islamic Republic.
Simultaneously, the US Department of Justice announced the seizure of shipments of Iranian missiles destined for Yemen and Iranian oil destined for Venezuela.
According to the German news agency, John Demers said on Thursday in Washington that in both cases, the Islamic Revolutionary Guards Corps was behind the plan to send the shipments, an organization that the US designates as a terrorist organization.
According to information from the US Department of Justice, these seizures took place several months ago, but court documents in both cases were released on Thursday for public disclosure.
John Demers said that the shipments seized on vessels included 171 guided anti-tank missiles and eight surface-to-air missiles.
Demers added that 1.1 million barrels of seized Iranian oil were sold for the benefit of the Victims of State Sponsored Terrorism Fund.
Elliott Abrams, the US Special Envoy for Iran and Venezuela Affairs, also announced that sanctions have been imposed against 11 entities and 5 individuals.
According to the US Treasury Department announcement, several Iranian companies as well as companies in Singapore and Hong Kong are among the sanctioned entities. All possible assets of these companies in the United States will be blocked.
US Treasury Secretary Steven Mnuchin said: “A global network of companies facilitates transactions in Iran’s petrochemical sector.”
According to the Fars News Agency, the names of the sanctioned companies are as follows:
- Polymer Aria Sasol, based in Iran, due to connection with Trilliance Petrochemical Company
- Between Rain Company, based in China, due to connection with Polymer Aria Sasol
- ELFO Energy Holding, based in Hong Kong, due to connection with Trilliance Petrochemical Company
- GLORY ADVANCED Company, based in Hong Kong, due to connection with Trilliance Petrochemical Company
- JANE SHANG Company, based in Hong Kong, due to connection with Trilliance Petrochemical Company
- JIAXIANG Energy Holding, based in Singapore, due to connection with Trilliance Petrochemical Company
- Marvarid Petrochemical Company, based in Iran, due to connection with Trilliance Petrochemical Company
- SIBSHUR Company, based in Hong Kong, due to connection with Trilliance Petrochemical Company
Source: DW
