Page 10 - DMEA Week 24 2022

DMEA POLICY & SECURITY DMEA

US cracks down on Iran’s sanctions-

busting petrochemical exports

MIDDLE EAST THE US on June 16 announced sanctions on Comprehensive Plan of Action,” US Under Sec-
Chinese and Emirati companies and a network retary of the Treasury for Terrorism and Finan-
of Iranian firms said to assist in exporting Iran’s cial Intelligence Brian Nelson said in a statement,
petrochemicals. referring to the JCPOA.
Washington might be once again cranking “Absent a deal, we will continue to use our
up enforcement of its Iran sanctions in order to sanctions authorities to limit exports of petro-
exert leverage on Tehran to progress deadlocked leum, petroleum products, and petrochemical
talks on reviving the 2015 Iran nuclear deal, or products from Iran,” Nelson said.
JCPOA. Tehran has said it remains open to strik- Iran’s deputy foreign minister for economic
ing an agreement with the US and other major diplomacy, Mehdi Safari, responded on Iranian
powers on bringing back the JCPOA—designed state TV, saying: “Our petrochemical industry
to curb the Iranian nuclear programme in return and its products have long been under sanctions,
for the lifting of economic sanctions—but the US but our sales have continued through various
has said it is awaiting a “constructive” communi- channels and shall continue to do so.”
cation from Tehran that does not demand con- The Treasury Department named the sanc-
sideration of matters the Biden administration tioned Hong Kong-based companies as Keen
considers “extraneous” to the nuclear deal. Well International Ltd and Teamford Enter-
The US Treasury department said that it had prises and the sanctioned Iran-based firms as
imposed penalties on two companies based in Fanavaran Petrochemical Company, Kharg
Hong Kong, three in Iran, and four in the United Petrochemical Company Ltd and Marun Petro-
Arab Emirates, as well as on Chinese citizen Jin- chemical Company.
feng Gao and Indian national Mohammed Sha- The Treasury listed the four UAE-based com-
heed Ruknooddin Bhore. panies hit with sanctions as Future Gate Fuel
“The United States is pursuing the path and Petrochemical Trading L.L.C., GX Shipping
of meaningful diplomacy to achieve a FZE, Sky Zone Trading FZE and Youchem Gen-
mutual return to compliance with the Joint eral Trading FZE.™

P10 www. NEWSBASE .com Week 24 16•June•2022