US Sanctions Companies for Allegedly Supporting Iranian Petr
Posted: Thu Sep 03, 2020 1:33 pm
U.S. Treasury Department announces, Sept. 3, 2020, that six companies headquartered in Iran, China and the United Arab Emirates were sanctioned for supporting Triliance Petrochemical Co., Ltd. for the shipment and sale of Iranian petrochemicals.
The United States has sanctioned several companies for allegedly allowing the shipment and sale of Iranian petrochemicals.
Six companies headquartered in Iran, China and the United Arab Emirates were sanctioned for supporting Triliance Petrochemical Co., Ltd., a Hong Kong-based dealer with operations in Iran, China, the UAE and Germany, the Treasury Department announced Thursday.
The U.S. blacklisted Triliance Petrochemical in January.
The Treasury Department alleged the Iran-based companies supported Triliance’s “continued involvement in the sale of Iranian petrochemical products, including efforts by Triliance to hide or otherwise obscure its involvement in sales contracts.”
The agency said Iranian petrochemical sales are still an important revenue source for Iran and helps it “finance its destabilizing support to corrupt regimes and terrorist groups throughout the Middle East and, more recently, Venezuela.”
The companies sanctioned by Treasury were Iran-based Zagros Petrochemical, Hong Kong-based Dinrin, Dynapex Energy and Jingho Technology, and UAE-based Petrotech FZE and Trio Energy DMCC.
Separately, the U.S. State Department said Thursday it placed sanctions on five entities and three individuals for allegedly participating in transactions linked to Iran’s petroleum and petrochemical industry.
The Iranian government did not respond immediately to the sanctions.