US sanctions against several petrochemical industry intermediaries and confiscation of Iranian missile and oil cargo
The US Treasury Department imposed sanctions on 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 for Yemen and oil for Venezuela.
On Thursday, October 29, the US government targeted several companies based in Iran, China, and Singapore with strict sanctions for buying and selling Iranian petrochemical products and acting as intermediaries in this regard.
Five days before the US presidential election on November 3, this appears to be the Trump administration's latest step to escalate maximum pressure on the Islamic Republic.
At the same time, the US Department of Justice announced the seizure of Iranian missile shipments destined for Yemen and Iranian oil destined for Venezuela.
According to the German news agency, John Demers said in Washington on Thursday that in both cases, the Revolutionary Guard Corps, a force that the United States considers a terrorist organization, was behind the plan to send the shipments.
According to the US Department of Justice, the seizures took place several months ago, but court documents in both cases were released to the public on Thursday.
John Demers said the cargo seized on the ships included 171 anti-tank guided missiles and eight surface-to-air missiles.
Demers added that 1.1 million barrels of confiscated Iranian oil were sold to benefit the state's Terrorism Victims Fund.
Elliott Abrams, the US special envoy for Iran and Venezuela, also announced that sanctions have been imposed on 11 entities and 5 individuals.
According to the US Treasury Department's announcement, several Iranian companies, as well as companies in Singapore and Hong Kong, are among the sanctioned entities. All potential assets of these companies in the United States will be frozen.
US Treasury Secretary Steven Mnuchin said: “A global network of companies facilitates transactions in Iran’s petrochemical sector.”
According to Fars News Agency, the names of the sanctioned companies are as follows:
- Aria Sasol Polymer, based in Iran, due to its connection to the Trillians Petrochemical Company
- Binrain Company, based in China, due to its connection to Aria Sasol Polymer Company
- Hong Kong-based ELFO Energy Holdings, due to its connection to the petrochemical company Trillions
- GLORY ADVANCED, based in Hong Kong, due to its connection to Trillians Petrochemical Company
- JANE SHANG Company, based in Hong Kong, due to its connection to Trillians Petrochemical Company
- JIAXIANG Energy Holdings, based in Singapore, due to its connection to Trillians Petrochemical Company
- Morvarid Petrochemical Company, based in Iran, due to its connection to Trillions Petrochemical Company
- SIBSHUR, based in Hong Kong, due to its connection to the petrochemical company Trillions
Source: DW
