US continues to crack down on Iran’s oil exports

Lloyd's List

The US has blacklisted an international network of 13 companies it says facilitated sales worth hundreds of millions of dollars of Iranian crude and refined products to buyers in East Asia. This is the fifth round of sanctions levied on Iran’s illicit petroleum and petrochemical trade in as many months, demonstrating Washington’s resolve on the matter. “The designations we have seen over the past few months have targeted companies and individuals located in China, Hong Kong, the United Arab Emirates, Switzerland, Ukraine, Lebanon and more,” said Claire Jungman, chief of staff at United Against Nuclear Iran. “It is clear Iran’s reach is not constrained. It will do whatever it can to sell its oil and petrochemical products. Stronger due diligence is needed from the entire maritime industry.” The US Office of Foreign Asset control said the network facilitated sales on behalf of sanctioned Iranian petrochemical brokers Persian Gulf Petrochemical Industry Commercial and Triliance Petrochemical, as well as the National Iranian Oil Company and its marketing arm, Naftiran Intertrade Company.