Home » Business » US sanctions 11 entities for aiding Iran’s oil sector

Share This Post

Business / Politics

US sanctions 11 entities for aiding Iran’s oil sector

US sanctions 11 entities for aiding Iran’s oil sector
U.S. Secretary of State Mike Pompeo on Wednesday renewed the Trump administration’s criticism of China’s early handling of the coronavirus outbreak.

The US imposed sanctions on 11 entities and three executives Thursday for allegedly aiding an Iranian energy firm that was blacklisted in January, and helping Iran export petroleum products .

The new designations of companies and executives include six under the Treasury Department’s authorities and five under the State Department. All are based in Iran, the United Arab Emirates (UAE) or China.

The State Department’s sanctions target Iran-based Abadan Refining Company; China-based Zhihang Ship Management, New Far International Logistics LLC and Sino Energy Shipping; and UAE-based Chemtrans Petrochemicals Trading.

The department also imposed sanctions on New Far executive Min Shi, Sino Energy executive Zuoyou Lin and Abadan managing director Alireza Amin.

“All entities targeted today continued to facilitate Iran’s export of petroleum, petroleum products, and petrochemicals contrary to U.S. sanctions. This is another reminder that the United States will not waver in its commitment to sanctions enforcement. Our sanctions will remain in place until Iran changes its behavior,” Secretary of State Mike Pomeo said in a statement.

The Treasury Department is further designating six “front companies” used by Triliance Petrochemical, which was designated in January.

Among those sanctioned are Iran-based Zagros Petrochemical Company, which the Treasury said agreed to sell Triliance “hundreds of thousands of metric tons of Iranian petrochemicals during the year 2020.”

The scheme allegedly involved Trilliance using UAE-based Petrotech FZE to purchase petrochemical products. Petrotech has also been sanctioned.

UAE-based Trio Energy and Hong Kong-based Jingho Technology Co. Limited, Dinrin Limited and Dynapex Energy Limited were also sanctioned for helping Triliance and Zagros.

Get more stories like this on Twitter

You Deserve to Make Money Even When you are looking for Dates Online.

So we reimagined what a dating should be.

It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.https://www.pmdates.com/assets/sources/uploads/5e2ec867e1d61_pmdates392x105.png

Share This Post