US Treasury imposes sanctions on six companies for dealing in Iran oil exports

United States Department of Treasury has imposed sanctions on six companies for ir alleged support to Triliance Petrochemical Co. Ltd., an entity earlier zeroed on by department for doing business with Iran. six companies designated by Treasury’s Office of Foreign Assets Control (OFAC) are based in Iran, UAE, and China. 

" Iranian regime uses revenue from petrochemical sales to continue its financing of terrorism and destabilizing foreign nda. Trump ministration remains committed to targeting those contributing to Iran’s attempts to eve U.S. sanctions by facilitating illicit sale of Iranian petroleum products around world," said Treasury Secretary Steven Mnuchin in a statement on September 3. 

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As per US department, se companies were doing business with Triliance, a Hong Kong-based broker that was selling petrochemicals from Iran. Triliance, along with three or petrochemical and petroleum companies, was sanctioned by United States in January this year for transferring hundreds of millions of dollars worth of exports from National Iranian Oil Company (NIOC), Islamic Republic's state-run oil company.

United States accuses Triliance of using or companies to hide ir involvement in petrochemical sales. Washington claims that Triliance uses se companies to broker sales of petroleum products by settling fees with ir accounts.

State Department sanctions

In dition to this, United States has also imposed sanctions on five or companies for kwingly engaging in a significant transaction for purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran. sanctions of se entities were imposed by US Department of State, which also sanctioned three individuals who are principal executive officers of sanctioned entities.  

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