The US unveils a new tranche of sanctions aimed at “illegal” support for Iran’s oil industry

The US unveils a new tranche of sanctions aimed at "illegal" support for Iran's oil industry
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In a statement, Secretary of State Antony Blinken said the “United States has sincerely embarked on a path of meaningful diplomacy to achieve a mutual return to full implementation of the joint comprehensive plan of action,” which is the official name of Iran’s 2015 nuclear deal.

“Until Iran is ready to return to full implementation of the JCPOA, we will continue to use our sanctions agencies to target Iran’s export of petroleum, petroleum products and petrochemical products,” Blinken said.

Efforts to salvage the deal – of what The US withdrew in 2018 under former President Donald Trump – have been unsuccessful. Iran has increasingly violated the terms of the deal and expanded its nuclear program. A round of indirect talks between the US and Iran ended in late June with no progress. Both Washington and Tehran have blamed each other for the failure to revive the deal.

Blinken said the Biden administration is sanctioning “six companies that facilitate illegal transactions related to Iranian petroleum and petroleum and petrochemical products, major sources of revenue for the Iranian government.”

The two companies sanctioned by the State Department are Pioneer Ship Management PTE LTD, “a company that managed an LNG tanker because it served as commercial manager for a ship transporting Iranian petroleum products,” and Golden Warrior Shipping, Co. Ltd., which ” involved in transactions related to Iran’s petroleum and petroleum products, including providing logistical support to Iran’s petroleum trade”.

“The Ministry continues to identify the Glory Harvest vessel as blocked property of Golden Warrior Shipping Co. Ltd,” Blinken said.

The US Treasury Department has “sanctioned four companies supporting Iran’s Persian Gulf Petrochemical Industry Commercial Co.,” which is under US sanctions and “remains involved in the sale of Iranian petroleum products and petrochemical products abroad,” Blinken said.

According to the Treasury Department, Monday’s sanctions build on those imposed in June and July. They target a UAE-based company called Blue Cactus Heavy Equipment and Machinery Spare Parts Trading LLC, as well as Farwell Canyon HK Limited, Shekufei International Trading Co., Limited and PZNFR Trading Limited based in Hong Kong and Malaysia. all of which supported PGPICC, according to the US Treasury Department.

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