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The USA sanctions on Chinese and UAE-based companies involved in Iranian oil exports

The USA Treasury Department has imposed sanctions on shell companies in China and the United Arab Emirates (UAE) of two companies that play a role in the export of Iran's petrochemical products.

The USA sanctions on Chinese and UAE-based companies involved in Iranian oil exports

In a statement made by the Treasury Department's Foreign Assets Control Office ( OFAC ), OFAC has imposed sanctions on a network of companies made up of Iranian petrochemical manufacturers that support Triliance Petrochemical and Iran Petrochemical Trading Company, which is on the sanction list that mediates the sale of Iranian petrochemical products abroad, as well as their  shell companies in China  and the UAE. ” expression was used.

The statement noted that the companies in question helped Iran circumvent sanctions by supporting the sale of Iranian petrochemical products to customers in China and the rest of East Asia.

The USA placed Triliance company on the sanctions list on January 23, 2020, and Iran Petrochemical Trading Company on November 5, 2018.

It was noted that among the Iran-based petrochemical companies that OFAC added to the sanctions list, there are Marun Petrochemical, Fanavaran Petrochemical, Harg Petrochemical companies.

It was noted that the international front and shipping companies included in the list are Hong Kong-based Keen Well International and Teamford Enterprises Limited, UAE-based GX Shipping, Future Gate Fuel and Petrochemical Trade Limited Company, Skyzone Trading, YouChem General Trading and Trio Energy.

It was seen that OFAC's list includes two people named Jeff Gao and Mohammed Shahid Ruknaddin Bhore, who are brokers on behalf of Triliance in China and India.

Making a written statement on the subject, US Secretary of State Antony Blinken said, “The Biden Administration is sincere and determined to pursue a meaningful diplomatic path to ensure mutual return to the full implementation of the Joint Comprehensive Plan of Action (OKEP) agreement. If there is no agreement, we will continue to use our sanctions authorities to limit exports of oil, petroleum products and petrochemical products from Iran.” used the phrases.

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