US sanctions five Asian companies for selling Iranian petrochemical products
The US Treasury Department issued a statement announcing that it has added a number of Iranian sanctions violators to the US Treasury Department's Office of Foreign Assets Control (OFAC) list.
The US Treasury statement, released on Wednesday, December 16, states: "These companies based in China and the UAE have acted as intermediaries to help Trillians sell and transport Iranian petrochemical products by providing shipping services and conducting financial transactions with the company."
US Treasury Secretary Steven Mnuchin said at the same time as announcing the sanctions: "Iran's oil and petrochemical sectors are among the main sources of financing for the Iranian regime, and the Islamic Republic uses these resources to support its malign domestic and foreign agendas."
The list of these sanctions is as follows:
- Donghai, a company based in China, was accused of transporting thousands of tons of petrochemical products from Iran to China under an agreement with Trillians.
- South East Petrochemical Company, which is located in China and uses its financial network with Trillions to transfer funds between Iran and Donghai Company
- Alpha Tech, a trading company based in the UAE, has transported thousands of tons of Iranian petrochemical products through the companies Trillions and Trio Energy.
- The FZE Petrochemical Trading Company, which is based in the UAE and, like Alpha Company, was a cover for the performance of Trillions Company in selling Iranian petrochemical products.
A gas and chemical transportation company in Vietnam has also been sanctioned for its connection and receipt of products from Iran.
On September 4 of this year, the United States sanctioned 11 legal entities and 3 natural persons in Iran, China, and the United Arab Emirates for violating sanctions imposed on the Islamic Republic and cooperating and trading with Iran's oil and petrochemical industries.
Source: Voice of America
