US sanctions Chinese, UAE firms skirting Iran oil embargo

The United States on Thursday imposed sanctions against 11 Iranian, Chinese, and United Arab Emirates corporations cited in helping to bypass the American embargo on Iran’s oil exports.

“Iran must stop exploiting its natural resources to fund terror and destruction across the region,” Mike Pompeo, US Secretary of State Mike Pompeo hinted in a tweet.

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It was the latest in a series of sanctions that Washington has hit on foreign organizations doing business with Tehran.

POTUS Donald Trump in 2018 pulled out of the international agreement engaged with the country to prevent it from obtaining nuclear weapons, which he stated was useless, and immediately re-established and tightened US sanctions against the Islamic Republic.

The US State Department imposed punitive measures on Iran-based Abadan Refining Company, three China-based companies (Zhihang Ship Management CO Ltd., New Far International Logistics LLC, Sino Energy Shipping Ltd), and another based in the UAE (Chemtrans Petrochemicals Trading LLC). Three executives from Abadan, New Far, and Sino Energy were also targeted.

The newly blacklisted organizations are the Iranian firms Zagros Petrochemical Company, UAE-based Petrotech FZE, and Trio Energy DMCC, and Chinese companies Jingho Technology Co. Limited, Dynapex Energy Limited, and Dinrin Limited, based in Hong Kong.

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