The U.S. on Sept. 3 imposed sanctions on 11 foreign companies, accusing them of helping to facilitate Iran's export of petroleum, petroleum products and petrochemicals in violation of American sanctions.
The Treasury said it slapped sanctions on six companies based in Iran, the United Arab Emirates and China that it said enable the shipment and sale of Iranian petrochemicals and support Triliance Petrochemical Co. Ltd., a Hong Kong-based company blacklisted by the U.S.
The State Department also imposed sanctions on five companies for engaging in transactions related to Iran’s petroleum and petrochemical industry, as well as on three executive officers of the blacklisted companies.
"Our actions today reaffirm the United States’ commitment to denying the Iranian regime the financial resources it needs to fuel terrorism and other destabilizing activities," U.S. Secretary of State Mike Pompeo said in a separate statement.
The move freezes any U.S. assets of those blacklisted and generally bars Americans from dealing with them.
The action targets Iran's Zagros Petrochemical Co., which the Treasury said agreed to sell Triliance hundreds of thousands of tonnes of Iranian petrochemicals this year.
Triliance, a Hong Kong-based broker, was hit with sanctions in January over accusations it ordered the transfer of the equivalent of millions of dollars to the National Iranian Oil Co. as payment for Iranian petrochemicals, crude oil and petroleum products.
The Treasury also blacklisted UAE-based Petrotech FZE and Trio Energy DMCC, Hong Kong-based Jingho Technology Co Ltd and Dynapex Energy Ltd, as well as China-based Dinrin Ltd., accusing them of being front companies for Triliance and Zagros.
"The Iranian regime uses revenue from petrochemical sales to continue its financing of terrorism and destabilizing foreign agenda," Treasury Secretary Steven Mnuchin said.
Tensions between Washington and Tehran have spiked since Republican President Donald Trump unilaterally withdrew in 2018 from the Iran nuclear deal struck by his Democratic predecessor, Barack Obama, and began reimposing sanctions that had been eased under the accord.
Recommended Reading
GWSO, AQST-USA Submit Proposal to NSF for EcoHydroGen Grant
2023-07-19 - Global Warming Solutions and AQST-USA have been invited to submit a pitch proposal for federal grants from the National Science Foundation to support the development of electricity generation system EcoHydroGen.
Pioneer Energy Completes Successful Emission Control Trial
2023-08-14 - Colorado's Pioneer Energy said commercial production is expected in 2024 using emissions control treater technology.
Tech Trends: STRYDE Makes Leap With Seismic Data Processing [WATCH]
2023-09-12 - In this week's Tech Trends episode, Hart Energy's Jaxon Caines is with geophysicist Amine Ourabah to talk about how STRYDE Lens streamlined its seismic data processing capabilities to access subsurface images faster than ever before.
SLB Signs Subsurface Technology Partnership Agreement with INEOS Energy
2023-09-06 - SLB’s Delfi digital platform will lower INEOS' carbon footprint.
EOT, AWS Partner to Deliver AI-Optimized Industrial Assets
2023-09-26 - EOT and AWS’ agreement calls for deploying the next generation of predictive maintenance by combining generative AI with edge computing.