Credit: Wikipedia  / China remains  the world’s only major importer of Iranian oil despite US sanctions. 

By Gary Raynaldo     DIPLOMATIC TIMES

The U.S. on Thursday  imposed sanctions on five entities for allegedly facilitating Iran’s exports of petrochemicals to support terrorist groups in the Middle East and helping prop up the Maduro regime in Venezuela.  The Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated the entities for their support to Triliance Petrochemical Co. Ltd. (Triliance), an entity designated by Treasury in January 2020, and related activities.  The DOT said these entities, based in Iran, UAE, and China, support Triliance’s continued involvement in the sale of Iranian petrochemical products, including efforts by Triliance to hide or otherwise obscure its involvement in sales contracts.   According to the DOT,  “Iranian petrochemical sales remain a key revenue source for the Iranian regime, helping to finance its destabilizing support to corrupt regimes and terrorist groups throughout the Middle East and, more recently, Venezuela.”

The entities sanctioned today are Iran-based Abadan Refining Company; China based Zhihang Ship Management CO Ltd., New Far International Logistics LLC and Sino Energy Shipping Ltd.; and United Arab Emirates (UAE) based Chemtrans Petrochemicals Trading LLC.  The individuals sanctioned today are:  Min Shi, employee of New Far; Zuoyou Lin, employee of Sino Energy; and Alireza Amin, employee of Abadan.  Iranian company Zagros Petrochemical Company; UAE-based Petrotech FZE (located in the Hamriya Free Zone, Sharjah, UAE) and Trio Energy DMCC; and Hong Kong-based Chinese entities Jingho Technology Co. Limited, Dynapex Energy Limited, and Dinrin Limited.

U.S Secretary of State Mike Pompeo said: 

“All entities targeted today continued to facilitate Iran’s export of petroleum, petroleum products, and petrochemicals contrary to U.S. sanctions.  This is another reminder that the United States will not waver in its commitment to sanctions enforcement.  Iran’s petroleum industry is a major source of revenue for the Iranian regime and funds its malign activities throughout the Middle East.    Our sanctions will remain in place until Iran changes its behavior.”