The United States is taking further action to interfere with efforts to evade sanctions on sales of Iranian oil and petrochemical products. In particular, the Ministry of Foreign Affairs imposed sanctions on two entities based in the People’s Republic of China (PRC): Zhonggu Storage and Transportation Co. Ltd., which operates a commercial crude oil storage facility for Iranian oil that provides a vital conduit for Iran. petroleum trading, as well as WS Shipping Co. Ltd., a ship manager for ships transporting Iranian oil products. The Treasury Department also designated eight entities for their involvement in the Iranian petrochemical trade. The entity is based in Hong Kong, Iran, India and the United Arab Emirates.
This designation was made pursuant to Executive Order 13846, which permits the imposition of sanctions in relation to trade in Iranian petroleum, petroleum products, and petrochemical products.
As Iran continues to accelerate its nuclear program in violation of the JCPOA, we will continue to accelerate enforcement of our sanctions on the sale of Iranian oil and petrochemicals under the authority to be removed under the JCPOA. These enforcement actions will continue on a regular basis, with the aim of severely limiting Iran’s oil and petrochemical exports. Anyone involved in facilitating these illegal sales and transactions must be stopped and stopped immediately if they are to avoid US sanctions.
For more information on today’s action, please see the Ministry of Finance press release.