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US Sanctions Chinese, UAE Firms Accused of Skirting Embargo on Iran Oil Exports

File photo: President Donald Trump pumps his fist as he walks on the South Lawn after arriving on Marine One at the White House, Thursday,Washington. (AP)

File photo: President Donald Trump pumps his fist as he walks on the South Lawn after arriving on Marine One at the White House, Thursday,Washington. (AP)

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

The United States on Thursday imposed sanctions against 11 Iranian, Chinese and United Arab Emirates companies accused of 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," US Secretary of State Mike Pompeo warned in a tweet.

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

US President Donald Trump in 2018 pulled out of the international agreement signed with the country to prevent it from acquiring nuclear weapons, which he said was ineffective, 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.

Meanwhile, the US Treasury Department has added to its blacklist six firms also based in those countries for doing business with Triliance Petrochemical, a company

first published:September 04, 2020, 11:16 IST