The US imposes sanctions against four companies from China and the UAE for helping an Iranian company.
The United States will impose sanctions against four companies from the UAE and China.
These companies are blamed for helping the Iranian company Triliance Petrochemical in the export of Iranian petrochemicals.
This announcement was published by the U.S. Treasury Department.
“The U.S. Treasury Department’s Office of Foreign Assets Control today imposed sanctions on four companies for assisting in the export of Iranian petrochemicals to Triliance Petrochemical, a company on the Treasury Department’s January 2020 sanctions list,” according to a statement on the U.S. Treasury Department website.
Donghai International Ship Management Limited serviced the ship, which transported petrochemicals from Iran to China, and Petrochem South East Limited helped Triliance with payments, the agency said in a statement. Both Donghai and Petrochem are based in China.
The other two companies on the sanctions list are from the UAE. Alpha Tech Trading and Petroliance Trading, both served as front companies for Triliance in intermediary transactions for the sale of petroleum products.
Sanctions for these four companies mean blocking all of their property interests in the United States, if they had any. U.S. citizens are prohibited from cooperating with them. In addition, it is not safe for foreign financial institutions to cooperate with companies on the U.S. Treasury Department’s sanctions list – by doing so, they themselves risk being sanctioned.