Sign up now for FREE unlimited access to Reuters.com Register WASHINGTON, Aug 2 (Reuters) – The United States on Monday imposed sanctions on Chinese and other companies it said helped sell tens of millions of dollars in Iranian oil and petrochemicals to East Asia, as it seeks to increase pressure on Tehran to curb nuclear her program. The US Treasury and US State Departments sanctioned a total of six companies, four based in Hong Kong, one in Singapore and one in the United Arab Emirates (UAE) in actions announced in separate announcements. The Ministry of Finance accused the Persian Gulf Petrochemical Industry Commercial Co. (PGPICC), one of Iran’s largest petrochemical brokers, that it used the companies to facilitate the sale of Iranian oil and petrochemical products in East Asia. Sign up now for FREE unlimited access to Reuters.com Register The Treasury Department targeted United Arab Emirates-based Blue Cactus Heavy Equipment and Machinery Spare Parts Trading LLC, which it said helped sell millions of dollars of Iranian-origin petroleum products to Triliance Petrochemical Co. Ltd. based in Hong Kong, which was previously sanctioned by the United States. It is also targeting Hong Kong-based Farwell Canyon HK Limited and Shekufei International Trading Co., Limited for facilitating such sales for onward shipment to buyers in East Asia. The Ministry of Finance accused PGPICC of using the companies’ bank accounts, along with those of Hong Kong and Malaysia-based PZNFR Trading Limited, to collect millions of dollars in revenue. Separately, the State Department sanctioned Singapore-based Pioneer Ship Management PTE LTD for allegedly managing a ship carrying Iranian oil products and Hong Kong-based Golden Warrior Shipping, Co. Ltd., for alleged transactions related to Iranian oil and oil products. The actions freeze US-based assets and generally prohibit Americans from dealing with them. Others involved in certain transactions with the targeted companies are also at risk of sanctions. The steps represent the third round of Iran-related U.S. sanctions against Chinese companies in the past two months. Since taking office in 2021, US President Joe Biden has avoided imposing sanctions on Chinese entities involved in oil trade with Iran amid hopes of securing a deal to revive the 2015 Iran nuclear deal. Efforts to revive the deal – under which Iran had curbed its nuclear program in exchange for relief from US and other sanctions – have so far failed, prompting Washington to look for other ways to increase pressure on Tehran. “The United States continues to pursue a path of diplomacy to achieve a mutual return to full implementation of the Joint Comprehensive Plan of Action,” Treasury Undersecretary for Terrorism and Financial Intelligence Brian Nelson said in the statement, referring to 2015. negotiates with its official name. “Until Iran is ready to return to full implementation of its commitments, we will continue to impose sanctions on the illegal sale of Iranian oil and petrochemicals.” Reacting to the new sanctions, Iranian Foreign Ministry spokesman Nasser Kanani said in a statement that Iran would respond “resolutely and decisively” to the White House’s continued sanctions. Sign up now for FREE unlimited access to Reuters.com Register Reporting by Daphne Psaledakis, Arshad Mohammed and Kanishka Singh in Washington. Edited by Bernadette Baum and Andrea Ricci Our Standards: The Thomson Reuters Trust Principles.
