The U.S. Department of the Treasury’s Office of Foreign Assets (OFAC) on Thursday (Sept. 3) added six entities based in Iran, the United Arab Emirates and China to its list of sanctioned entities. The U.S. government has determined that the six entities were involved in circumventing U.S. sanctions against Iran and supporting the continued involvement of previously sanctioned Triliance Petrochemical Co. Ltd. in the sale of Iranian petrochemicals.
In addition, the U.S. State Department on Thursday imposed sanctions on five entities for knowingly engaging in significant transactions related to Iranian petrochemicals. The State Department also sanctioned the top executives of the sanctioned entities.
One of the latest Chinese entities to be sanctioned by the U.S. is headquartered in Shanghai, and the rest are based in Hong Kong. These entities include.
Zhihang Ship Management Shanghai Co. Ltd.
Sino Energy Shipping Hong Kong Limited
New Far International Logistic Limited
Jinghao Technology Co. Limited, Hong Kong
Dinrin Limited, Hong Kong
One of the three sanctioned individuals is an Iranian citizen and the other two are Chinese citizens. The two Chinese are Lin Zuoyou of Wenling City, Zhejiang Province, and Shi Min of Xuhui District, Shanghai.
In a statement, Treasury Secretary Mnuchin was quoted as saying, “The Iranian regime uses revenues from the sale of petrochemicals to continue to fund terrorism and a destabilizing foreign agenda. The Trump administration remains committed to cracking down on those who contribute to Iran’s attempts to circumvent U.S. sanctions by illegally selling Iranian petroleum products around the world.”
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