US Places Sanctions on Companies Allegedly Assisting Iran
(ConservativeHub.com) – Former President Donald Trump withdrew the United States from the multinational agreement, arguing it wasn’t beneficial. When President Joe Biden took office, he vowed to rejoin the deal. Talks have broken down over the last year, prompting the administration to use sanctions to persuade Iran to work with the US to create a new accord.
On September 29, US Secretary of State Antony Blinken and the US Department of the Treasury released information concerning new sanctions against companies associated with Iran’s petroleum sales. The punishments seek to dissuade other entities from assisting the nation in selling its products.
The U.S. imposed sanctions on firms on two China-based companies that it accuses of helping Iran evade bans on its oil and petrochemical exports, one of which it said operates an oil storage facility for Iranian petroleum.@IanTalleyhttps://t.co/aKYhf6tiau
— Jonathan Cheng (@JChengWSJ) September 30, 2022
Two Chinese companies came under fire. Zhonggu Storage and Transportation Co. LTD. has allegedly provided a storage facility for Iranian petrol, and it’s believed WS Shipping Co. LTD. has been shipping Iranian fossil fuel products. Several other entities from Hong Kong, Iran, India, and the United Arab Emirates also faced sanctions.
Blinken explained the sanctions aimed at preventing Tehran from advancing its nuclear program. US policymakers hope that restricting petroleum exports will pressure the nation into a new deal limiting nuclear development and use. Brian Nelson, Under Secretary for Terrorism and Financial Intelligence in the Treasury, said the government plans to continue the coercive measures until there is an agreement, according to Reuters.
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