August 19, 2022
US sanctions companies it says help transport Iranian oil

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(Aug 1): The US sanctioned four companies associated with the shipping of Iranian oil and petrochemicals from Iran to East Asia, operations that officials said comprised tens of millions of dollars of the country’s product.

“The United States continues to pursue the path of diplomacy to achieve a mutual return to full implementation” of the 2015 accord to curb Iran’s nuclear programme, Brian Nelson, the Under Secretary of the Treasury for Terrorism and Financial Intelligence, said in a statement. “Until such time as Iran is ready to return to full implementation of its commitments, we will continue to enforce sanctions on the illicit sale of Iranian petroleum and petrochemicals.”

The sanctioned entities include Blue Cactus Heavy Equipment and Machinery Spare Parts Trading LLC, which is based in the United Arab Emirates, and has helped facilitate the sales between Iran’s Persian Gulf Petrochemical Industry Commercial Co and broker Triliance Petrochemical Co Ltd., according to the Treasury.

The Treasury also sanctioned Farwell Canyon HK Ltd, Shekufei International Trading Co Ltd, and Hong Kong and Malaysia-based PZNFR Trading Ltd in connection with the transactions. In addition, the US State Department also designated two entities: Pioneer Ship management PTE Ltd and Golden Warrior Shipping, Co Ltd.

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