U.S. Sanctions Iran Oil Traders

The U.S. on Thursday imposed new sanctions against several companies that facilitate trade in Iranian oil and petrochemical products, TURAN's Washington correspondent reports.

"As Iran continues to accelerate its nuclear program in violation of the [nuclear deal] JCPOA, we will continue to accelerate our enforcement of sanctions on Iran’s petroleum and petrochemical sales under authorities that would be removed under the JCPOA," Secretary of State Antony Blinken said in a statement.

With new sanctions the U.S. Treasury targets "Iranian brokers and several front companies in the UAE, Hong Kong and India that have facilitated financial transfers and shipping of Iranian petroleum and petrochemical products," according to Brian Nelson, undersecretary of Treasury for terrorism and financial intelligence.

The State Department in its turn designated two entities based in the People's Republic of China, Zhonggu Storage and Transportation Co. Ltd. and WS Shipping Co. Ltd., for their involvement in Iran's petrochemical trade.

"These enforcement actions will continue on a regular basis, with an aim to severely restrict Iran’s oil and petrochemical exports," Blinken said, adding that anyone involved in facilitating these illegal sales and transactions "should cease and desist immediately if they wish to avoid U.S. sanctions."

Alex Raufoglu

Washington D.C.