US Imposes New Sanctions Targeting Iran's Petrochemical Sector – Treasury Dept.

WASHINGTON, September 3- The United States has designated three individuals and 11 entities in Iran, China and the United Arab Emirates as part of new sanctions targeting Iran’s petrochemical sector, the Treasury Department said in a press release on Thursday. “Today, the US Department of the Treasury’ s Office of Foreign Assets Control designated six entities…

WASHINGTON, September 3 (Sputnik) – The United States has designated three individuals and 11 entities in Iran, China and the United Arab Emirates as part of new sanctions targeting Iran’s petrochemical sector, the Treasury Department said in a press release on Thursday.

“Today, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated six entities for their support to Triliance Petrochemical Co. Ltd. (Triliance), an entity designated by Treasury in January 2020, and related activities,” the release said. “These entities, based in Iran, UAE, and China, support Triliance’s continued involvement in the sale of Iranian petrochemical products, including efforts by Triliance to hide or otherwise obscure its involvement in sales contracts.”

The release added that the State Department has imposed sanctions on three individuals and five entities for engaging in the shipment or sale of Iranian petrochemicals.