PanamaTimes

Friday, Apr 19, 2024

US targets Hong Kong and UAE companies in fresh Iran sanctions

US targets Hong Kong and UAE companies in fresh Iran sanctions

Washington has accused the firms of helping deliver and sell Iranian petroleum and petrochemical products to China and other Asian countries.

The US on Wednesday imposed sanctions on a network of Hong Kong, Emirati and other companies that it accused of helping to deliver and sell Iranian petroleum and petrochemical products to East Asia, applying pressure on Tehran as Washington seeks to revive the 2015 Iran nuclear deal.

The US Treasury Department said in a statement the network of people and entities used a web of Gulf-based front companies to facilitate the delivery and sale of hundreds of millions of dollars in products from Iranian companies to East Asia.

In Doha last week, indirect talks between Tehran and Washington ended without a breakthrough over how to salvage Iran’s 2015 nuclear pact.

“While the United States is committed to achieving an agreement with Iran that seeks a mutual return to compliance with the Joint Comprehensive Plan of Action, we will continue to use all our authorities to enforce sanctions on the sale of Iranian petroleum and petrochemicals,” Brian Nelson, the Treasury’s under secretary for terrorism and financial intelligence, said.

Iran’s chief nuclear negotiator Ali Bagheri Kani (right) meets the European Union’s nuclear talks coordinator Enrique Mora in Qatar’s capital Doha in June.


Among those designated in Wednesday’s move was Iran-based Jam Petrochemical Co, which Washington accused of exporting petrochemical products to companies throughout East Asia, many of which were sold to US-sanctioned Iran Petrochemical Commercial Co for shipment to China.

Jam did not immediately respond to a request for comment.

Also targeted was Edgar Commercial Solutions FZE, which the Treasury said bought and exported petrochemical products from sanctioned Iranian companies. Washington said the company used Hong Kong-based front company Lustro Industry Limited, also designated on Wednesday, to disguise its role in the bulk purchase of petrochemical products.

Ali Almutawa Petroleum and Petrochemical Trading LLC, which Washington said was a front company for US-sanctioned Triliance Petrochemical Co Limited, was among several United Arab Emirates-based companies targeted in the action.

Reuters could not immediately reach Edgar Commercial Solutions FZE, Lustro Industry Limited and Ali Almutawa Petroleum and Petrochemical Trading LLC for comment.

Companies based in Vietnam and Singapore were also designated.

The move freezes any US assets of those designated and generally bars Americans from dealing with them. Those who deal with the targeted people and entities may also be hit with sanctions.

Newsletter

Related Articles

PanamaTimes
0:00
0:00
Close
Apple warns against drying iPhones with rice
In a recent High Court hearing, the U.S. argued that Julian Assange endangered lives by releasing classified information.
Global Law Enforcement Dismantles Lockbit Ransomware Operation
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
The President of Argentina Javier Mile does not fly private, he flies commercial, with the citizens he represents. And they LOVE him for it.
Bitcoin Reaches $50,000 for First Time in Over Two Years
Belo Horizonte: Brazil's Rising Carnival Hotspot for 2024
In El Salvador, the 'Trump of Latin America' stuns the world with a speech slamming woke policing after winning a landslide election
Tucker’s interview with Putin is over 50M views on X within the first 5 hours.
Finnish Airline, Finnair, is voluntarily weighing passengers to better estimate flight cargo weight
President Nayib Bukele has proudly announced El Salvador's remarkable achievement of becoming the safest nation in the Western Hemisphere.
Former Chilean President Sebastian Piñera Dies in Helicopter Crash
This farmer seems to understand science a bit more than the event organizer, Klaus Schwab.
Facebook turns 20: From Mark Zuckerberg's dormitory to a $1trn company
The Coolest Dictator in the World" on the Path to Victory in El Salvador
Macron, France and fake news
Indian-Origin Man 'King' Arrested For Smuggling $16 Million Drugs Into US
Can someone teach Americans that not every person with slanted eyes is Chinese?
Europe's Farmers Feeding the People, Protesting Against Politicians Who Do Nothing for Their Country and Serve Only Themselves at Taxpayers' Expense
Paris Restaurant That Inspired 'Ratatouille' Loses $1.6 Million Worth Of Wine
Brazilian Police Investigate Bolsonaro's Son for Alleged Illegal Spying
Police in Brazil Raid Residence of Bolsonaro Associate Over Allegations of Illegal Spying
Border Dispute Escalates as Texas Governor Vows Increased Razor Wire
OpenAI Enhances ChatGPT-4 Model, Potentially Addressing AI "Laziness" Issue
The NSA finally acknowledges spying on Americans by acquiring sensitive data
Report Reveals Toxic Telegram Group Generating X-Rated AI-Generated Fake Images of Taylor Swift
US Border Patrol States 'No Plans' to Remove Razor Wire Installed in Texas
Bitcoin Experiences Approximately 20% Decline in Value
Klaus Schwab recently appointed himself as the Earth's "trustee of the future."
DeSantis Drops Out, Endorses Trump.
Nikki Haley said former President Trump is "just not at the same level" of mental fitness as he was while president in 2016.
Residents of a southern Mexican town set the government palace on fire in response to the police killing of a young man
Samsung Launches AI-Driven Galaxy S24, Ushering in New Smartphone Era
Judge Questions SEC's Regulatory Overreach in Coinbase Lawsuit
The Ecuador prosecutor who was investigating the television studio attack, has been assassinated.
Is artificial intelligence the solution to cyber security threats?
Vivek Ramaswamy suspends his US election campaign and endorses Trump.
Viral Satire: A Staged Satirical Clip Mistaken as Real Footage from the 2024 World Economic Forum in Davos
The AI Revolution in the Workforce: CEOs at Davos Predict Major Job Cuts in 2024
Ecuador Reports 178 Hostages in Prison Gang Standoff
The Startling Cuban Espionage Case That Has Rattled the US Government
Two Armed Men in Ecuador, Dressed as Batman and The Joker Storm the Streets.
Armed Gang Raids Ecuadorian TV Station Following State of Emergency Declaration
Anti-Democratic Canada: Journalist Arrested for Questioning Canadian Finance Minister on Support of Terrorist Group
Ecuador's 'Most-Wanted' Criminal Vanishes from Prison
Mexican Cartel Supplied Wi-Fi to Locals Under Threat of Fatal Consequences for Non-Compliance
Border Surge Leads to Over 11,000 Migrants Waiting in Northern Mexico
Outsider Candidates Triumph in Latin American Elections
As Argentina Goes to the Polls, Will the Proposal to Replace the Peso with the Dollar Secure Votes?
Fatal Shark Attack Claims Life of Boston Woman Paddleboarding Near Bahamas Resort, According to Police
×