U.S. Imposed New Sanctions On Iranian Oil Sales Network 07/07/22

U.S. tightens sanctions on Iran, targets Chinese, Emirati firms over oil

 

The United States on Wednesday imposed sanctions on a network of Chinese, Emirati and other companies that it accused of helping to deliver and sell Iranian petroleum and petrochemical products to East Asia, pressuring Tehran as it seeks to revive the 2015 Iran nuclear deal.

The U.S. Treasury Department said in a statement the network of people and entities used a web of Gulf-based front companies to facilitate the delivery and sale of hundreds of millions of dollars in products from Iranian firms to China and elsewhere in East Asia.

Washington has increasingly targeted Chinese companies over the export of Iran’s petrochemicals as the prospects of reviving the nuclear pact have dimmed.

Also targeted was United Arab Emirates-based Edgar Commercial Solutions FZE, which the Treasury said purchased and exported petrochemical products from sanctioned Iranian companies for shipment to China.

 

Retrieved from:

https://www.reuters.com/world/middle-east/us-targets-iranian-oil-petrochemical-trade-network-2022-07-06/