US imposed sanctions on companies from the UAE and China

The United States imposed sanctions against four large companies from China and the UAE that were engaged in illegal business with Tehran, according to World News.

The sanctions relate to the fact that companies from China and the United Arab Emirates bought oil in Iran bypassing the economic embargo.

"The petrochemical and oil sectors of Iran are the main sources of financing for the Iranian regime, which is used to support its criminal programs both inside the state and outside," said US Treasury Secretary Stephen Mnuchin.

US sanctions were imposed on four Chinese companies, in particular, Donghai and Petrochem, which ensured the maritime transportation of Iranian oil and payments for its sales. In addition, the restrictions included the Emirati companies Alpha Tech Trading FZE and Petroliance Trading FZE, which were involved in clandestine oil purchase and sale operations.

All organizations carried out illegal transactions with the Iranian company Triliance Petrochemical Co. Ltd., which has been under US sanctions since early 2020.

The US Treasury Department stressed that the sale of petrochemical products contributes to the enrichment of Iran's corrupt leaders and finances destabilizing activities. The Iranian regime uses these funds to proliferate weapons of mass destruction and their delivery vehicles, support foreign terrorist groups, and gross violations of human rights.

Earlier it was reported that Iran intended to sell more than 2.3 million barrels of oil per day.

Tags: oil, USA, sanctions, foreign affairs, export, oil deliveries, economy

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