The United States on Monday imposed sanctions on China and other companies that allegedly helped sell tens of millions of dollars worth of Iranian oil and petrochemicals to East Asia in a bid to increase pressure on Tehran. The U.S. Treasury and State Departments have previously sanctioned six companies: four based in Hong Kong, one based in Singapore, and one based in the United Arab Emirates (UAE). , announced in a separate statement. The Ministry of Finance has announced that one of Iran’s largest petrochemical brokers, Persian Gulf Petrochemical Industry Commercial Co. (PGPICC), will use the company to facilitate sales of Iranian petroleum and petrochemical products to East Asia. accused of doing so.

The Treasury Department has accused PPGPICC of using the company’s bank accounts, along with those of Hong Kong and Malaysia-based PZNFR Trading Limited, to generate millions of dollars in revenue. Separately, the State Department has sanctioned Singapore-based Pioneer Ship Management PTE LTD for allegedly controlling ships carrying Iranian petroleum products, and Hong Kong-based Golden Warrior Shipping, Co. Ltd. was sanctioned.

The Ministry of Finance targeted UAE-based Blue Cactus Heavy Equipment and Machinery Spare Parts Trading L.L.C. It said it helped sell millions of dollars in Iranian-origin petroleum products to Hong Kong-based Triliance Petrochemical Co. Ltd. Previously sold in the US. It also targeted Hong Kong-based Farwell Canyon HK Limited and Shekfei International Trading Company Limited to drive sales for shipments to East Asian buyers.

Regarding alleged transactions involving Iranian oil and petroleum products. The measure freezes U.S. based assets and generally prohibits the trading of assets by U.S. persons. Others who engage in certain transactions with covered companies are also at risk of sanctions. The move is his third in a series of US- and Iran-related sanctions against Chinese companies in the past two months. Since taking office in 2021, U.S. President Joe Biden has stepped up sanctions on Chinese companies involved in oil trade with Iran as he hopes to reach a deal to revive the 2015 Iran nuclear deal.

Efforts to revive the pact that had stifled Iran’s nuclear program in exchange for US bailouts and other sanctions have so far failed, prompting Washington to seek other ways to increase pressure on Tehran. In a statement, Treasury Undersecretary for Terrorism and Financial Intelligence Brian Nelson noted that the 2015 agreement undermined U.S. We continue to pursue diplomatic paths to achieve mutual reversion to the United States.” Formal name. “We will continue to enforce sanctions against the illegal sale of Iranian oil and petrochemicals until Iran is ready to fully implement its commitments,” he said.