Chinese, Emirati companies sanctioned for exporting Iran petrochemicals

The United States on Wednesday imposed sanctions on companies based in China including Donghai International Ship Management,  and the United Arab Emirates, accusing them of supporting the sale of Iranian petrochemicals as Washington increases pressure on Tehran in the closing days of President Donald Trump’s term, Reuters reports.

The U.S. Treasury Department said in a statement it sanctioned the four entities for facilitating the export of Iranian petrochemical products by Triliance Petrochemical Co., which was hit with sanctions by Washington earlier this year.

Also targeted in the move was Vietnam Gas and Chemicals Transportation Corporation over its connection with significant transactions for the transport of petroleum products from Iran, the Treasury said.

The Trump administration has imposed sanctions nearly daily over the past several weeks, many targeted at Iran. Analysts have said the sanctions pressuring Tehran seem designed to complicate President-elect Joe Biden’s path to renegotiating a nuclear deal with Iran.

“The United States will act against persons who support illicit actors engaged in the movement of Iranian petroleum and petrochemical sales,” Treasury Secretary Steven Mnuchin said in the statement.

The action placed sanctions on China-based Donghai International Ship Management, China-based Petrochem South East Limited, UAE-based Alpha Tech Trading FZE and UAE-based Petroliance Trading FZE for providing support to Triliance Petrochemical Co.

Washington in January blacklisted Hong Kong-based Triliance Petrochemical Co  and three other petrochemical and petroleum companies that the Treasury said collectively transferred the equivalent of hundreds of millions of dollars’ worth of exports from the National Iranian Oil Company.