Page 8 - DMEA Week 10 2023

DMEA POLICY & SECURITY DMEA

Iran hit with new

US sanctions

IRAN THE US this week placed new sanctions on in the transport or sale of Iranian petroleum
shipping companies it cites as participating in products or petrochemical products…and is
the transport of Iranian petroleum products identifying 20 vessels as property or interests in
and petrochemicals. The US Treasury and State property of these entities.”
Department issued statements identifying two The State Department named the entities
China-based companies along with several as Vietnam-based Golden Lotus Oil Gas and
based in the UAE and Vietnam and 20 vessels Real Estate Joint Stock Company, which it said
that will have their US assets frozen and barred had knowingly engaged “in a significant trans-
from doing business with US firms. action for the transport of petroleum products
The move is the latest in a seemingly steady from Iran.” It also identified China-based Global
stream of sanctions from the US, the EU and Marine Ship Management Co., and Shanghai
the UK for Iran’s domestic violent crackdown Xuanrun Shipping Co., and the UAE-based
against demonstrators and its support for Russia Swedish Management Co.
in the war in Ukraine, as well as the smuggling Two Iran-based companies, Shiraz Petro-
of oil products. Iran is reported to be supplying chemical Company and Bushehr Petrochemi-
Russia with aerial drones that are targeting civil- cal Company, were also listed for “a significant
ian infrastructure in Ukrainian cities. transaction for the sale of petrochemical prod-
The administration of President Joe Biden ucts from Iran.”
has attempted to renew negotiations with Iran The State Department also listed 20 vessels
over its nuclear research programme, but no pro- operating under the management of the compa-
gress towards restoring the talks has been made. nies sanctioned, but said the Treasury’s Office of
The US pulled out of the 2015 nuclear deal, Foreign Assets Control (OFAC) was authorising
which lifted sanctions against Iran, during the “the wind down and limited safety and environ-
Trump administration and sanctions that had mental transactions involving certain vessels”
previously been in place were restored as Iran that will last to 30 June this year.
reopened its nuclear research. The Department warned in its statement that
“The United States is committed to signifi- “anyone conducting transactions that involve the
cantly reducing Iranian energy exports and will designated entities and identified vessels risks
sanction those facilitating Iran’s petroleum and exposure to US sanctions,” and added: “These
petrochemical trade,” a statement released by designations underscore our continued efforts
the office of Secretary of State Antony Blinken to enforce our sanctions against Iran. We will
said on March 2. “Today, the Department of the not hesitate to take action against those who try
State is designating six entities that have engaged to circumvent our sanctions.”™

P8 www. NEWSBASE .com Week 10 09•March•2023