HK, Chinese shippers sanctioned by US for helping Iran breach sanctions

The United States on Monday said it sanctioned two Chinese men and six Chinese companies for having dealt with Iranian shipping company Islamic Republic of Iran Shipping Lines (IRISL) and, in some cases, helping it to evade U.S. sanctions, Reuters reports.

Some of the sanctioned shippers are based in Hong Kong and listed as having offices in The Strand, at Bonham Strand, Sheung Wan.

The U.S. State Department named the entities as Reach Holding Group (Shanghai) Company; Reach Shipping Lines; Delight Shipping Co of Bonham Strand, Sheung Wan, Gracious Shipping Co of Bonham Strand, Sheung Wan, Noble Shipping Co of Bonham Strand, Sheung Wan, and Supreme Shipping Co, also of Bonham Strand, Sheung Wan.

In a statement, it also said it had targeted Eric Chen, also known as Chen Guoping, chief executive of Reach Holding Group (Shanghai) Company, and Daniel Y. He, also known as He Yi, the company’s president.

As a result of being put on the U.S. Treasury Department’s Specially Designated Nationals list, the assets of the entities and individuals falling under U.S. jurisdiction are frozen and U.S. persons are generally barred from dealing with them.

“Today, we reiterate a warning to stakeholders worldwide: If you do business with IRISL, you risk U.S. sanctions,” Secretary of State Mike Pompeo said in the statement.

Among other things, the State Department accused the six entities of providing “significant goods or services” used in connection with Iran’s shipping sector. It also accused Reach Holding Group and its Reach Shipping Lines unit helping IRISL and its subsidiaries evade U.S. sanctions.

The sanctions are the latest imposed by the United States following President Donald Trump’s 2018 decision to abandon the 2015 Iran nuclear deal that Iran struck with six big powers.

Under that agreement, which aimed to prevent Iran from obtaining a nuclear weapon, Tehran committed to limit its nuclear activities in return for relief from economic sanctions.

Trump argues the 2015 deal did not limit Iran’s regional and ballistic missile activities and economic pressure instead will force Tehran into a broader deal. Iran denies seeking nuclear weapons.-Reuters/The Standard