Its headquarters are in China and the UAE. Washington Imposes Sanctions on Companies That Helped Iranian Oil Sector Circumvent Sanctions

The United States imposed sanctions on 13 companies based in China, Hong Kong and the UAE that helped Iran’s oil sector bypass sanctions and facilitated the sale of petrochemicals and oil products in East Asia.

And the ministry posted on its official website on Thursday: “The U.S. Treasury Department’s Office of Foreign Assets Control has decided to impose sanctions on 13 companies from several countries that facilitated the sale of hundreds of millions of dollars worth of Iranian petrochemicals and oil products to buyers in East Asia.

The statement added: “These companies were operating on behalf of Iranian petrochemical middlemen that are subject to the US embargo, namely Gulf Company for the commercial petrochemical industry, Trillance petrochemical company and National Iranian Oil Company.

“Today’s actions further demonstrate the sophisticated sanctions evasion tactics that Iran is using to illegally sell oil and petrochemicals,” U.S. Deputy Secretary of the Treasury for Counterterrorism and Financial Intelligence Brian Nelson said in a statement.

He stressed that “the United States will continue to apply sanctions against those parties that facilitate these sales.”

Among the targeted companies are those based in the UAE and others based in Hong Kong, which the Treasury Department has accused of having ties to petrochemical company Trillance.

Also among those targeted is Dubai-based Access Technology Trading, which has been accused by the Treasury Department of buying tens of millions of dollars worth of petrochemicals from a US-sanctioned Gulf petrochemical company to ship to China.

The sanctions have also targeted the China-based East Asia Trading, Import and Export Company, which Washington accuses of facilitating the supply of oil to a foreign buyer for the National Iranian Oil Company and its marketing arm.

Source: TASS+ US Treasury

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