US Sanctions Five Asian Companies for Selling Islamic Republic Petrochemical Products
The U.S. Department of Treasury announced in a statement that it has added a number of violators of Iran sanctions to the list of the Office of Foreign Assets Control (OFAC) of the U.S. Department of Treasury.
In a Treasury Department statement released on Wednesday, December 17, it was stated: These companies, based in China and the UAE, provided shipping services and conducted financial transactions with Trilliance Company, thereby assisting this company to sell and transfer Iranian petrochemical products.
Steven Mnuchin, U.S. Secretary of the Treasury, while announcing these sanctions, said: “Iran’s oil and petrochemical sectors are among the primary sources of financing for the Iranian regime, and the Islamic Republic uses these resources to support its destructive domestic and foreign programs.
The list of these sanctions is as follows:
- Donghai Company, which is based in China, for transferring thousands of tons of Iranian petrochemical products to China based on Trilliance Company agreement
- South East Petrochemical Company, which is based in China and uses its financial network with Trilliance to transfer funds between Iran and Donghai Company
- Alpha Tech Trading Company, which is based in the UAE and, through Trilliance and Trio Energy companies, transferred thousands of tons of Iranian petrochemical products
- FZE Petrochemical Trading Company, which is based in the UAE and, like Alpha Tech Company, served as a cover for Trilliance Company’s operations in selling Iranian petrochemical products
A gas and chemical transfer company in Vietnam was also sanctioned for its connections and receipt of products from Iran.
On September 4 of this year, the United States also sanctioned 11 legal entities and 3 natural persons in Iran, China, and the United Arab Emirates for violating the sanctions imposed against the Islamic Republic and for cooperation and trade with Iranian oil and petrochemical industries.
Source: Voice of America
