From the Liveblog of
Wednesday, July 6, 2022
US slaps fresh sanctions on Iran oil sales to east Asia
Add ToI as a Preferred Source on GoogleJacob Magid is The Times of Israel's US bureau chief
The US says it is sanctioning 15 foreign companies or individuals for allegedly selling and shipping Iranian oil to east Asia, despite restrictions prohibiting business with the Islamic Republic’s energy industry.
The sanction targets hail from Iran, the UAE, Vietnam, Singapore, and Hong Kong.
“These entities have supported Iranian energy trade generating millions of dollars’ worth of illicit revenue,” the State Department says in a statement.
The Treasury is also designating eight entities and two individuals located in Iran, Hong Kong, and the UAE, that support the continued involvement of regional oil companies in the sale of Iranian oil abroad.
The Biden administration has intensified sanctions announcements against Iran and Iran-ties companies and individuals over the past few months, amid stalled talks to revive the 2015 nuclear accord known as the Joint Comprehensive Plan of Action.
“While the United States is committed to achieving an agreement with Iran that seeks a mutual return to compliance with the Joint Comprehensive Plan of Action, we will continue to use all our authorities to enforce sanctions on the sale of Iranian petroleum and petrochemicals,” says Treasury official Brian E. Nelson.
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