U.S. Blocks Four Petrochemical Companies for Helping NIOC

The U.S. Thursday stated it blocked two companies stationed in Hong Kong, one in Shanghai and one in Dubai for helping Iran’s state-owned National Iranian Oil Company (NIOC) export thousands of dollars of goods in breach of U.S. sanctions.

The U.S. Treasury Division stated it levied sanctions on the Hong Kong-based Triliance Petrochemical and Sage Energy, China-based Peakview Industry, and United Arab Emirates-based Beneathco DMCC.

The sanctions would freeze all assets held by the businesses that come under U.S. jurisdiction, usually, block U.S. companies and people from dealing with them, and probably subject non-U.S. monetary institutions that knowingly facilitate “important transactions” for them to U.S. sanctions.

As well as, the U.S. government-imposed sanctions on two other firms, Jiaxiang Industry Hong Kong and Shandong Oiwangwa Petrochemical, and two people, Ali Bayandrian, who’s connected to Triliance Petroleum, and Zhiqing Wang, a Chinese national connected to Shandong Oiwangwa.

The announcements are the most recent move in the U.S. “maximum stress” campaign meant to squeeze the Iranian economy to try to force Iran to just accept greater constraints on its nuclear program, regional practices, and pursuit of ballistic missiles.

U.S.-Iranian spats have risen since the U.S. determination to abandon the 2015 Iran nuclear agreement, its subsequent re-imposition of U.S. sanctions on the Islamic Republic, attacks Saudi oil facilities blamed on Iran and the U.S. airstrike that killed Iranian army commander Soleimani in early January.