The United States has imposed sanctions on more than a dozen companies based in China, Hong Kong and the UAE for helping Iran circumvent trade restrictions - they reportedly facilitated the sale of products from Iran's oil refining and petrochemical industries to buyers in East Asia, Reuters writes.
It is noted that the latest US move against the smuggling of Iranian oil comes as efforts to restore the nuclear deal with Iran from 2015 have stalled. Relations between the Islamic Republic and the West are increasingly strained as Iranians continue their anti-government protests.
Washington is increasingly targeting Chinese companies that produce Iran's petrochemical exports as prospects for renewing the nuclear deal dim. A statement released by the US Treasury Department said 13 companies facilitated the sale of hundreds of millions of dollars worth of Iranian petrochemicals and petroleum products to buyers in East Asia on behalf of sanctioned companies, including the National Iranian Oil Company and Triliance Petrochemical Co. Ltd.
The decision reportedly freezes any listed US assets and prohibits US companies from dealing with them altogether. Those who carry out certain transactions with companies also risk being sanctioned.
