The United States on Monday imposed sanctions on Chinese and other companies it said were used by one of Iran's largest petrochemical brokers to sell tens of millions of dollars' worth of Iranian products to East Asia, as Washington continues to crack down on Iranian oil sales to the region, APA reports citing Reuters.
The U.S. Treasury Department in a statement accused the designated companies of being used by Iran’s Persian Gulf Petrochemical Industry Commercial Co. to facilitate the sale of Iranian petroleum and petrochemical products from Iran to East Asia.
The United States imposed sanctions four companies from Hong Kong, one from the United Arab Emirates, and one from Singapore on Monday, according to the Treasury website, the latest salvo in its stepped-up effort to enforce U.S. sanctions designed to slash Iran's revenues from oil and petrochemicals.
The action freezes any U.S.-based assets and generally bars Americans from dealing with them. Those that engage in certain transactions with the firms also risk being hit by sanctions.
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