New US Sanctions Target Iran's Petrochemical, Petroleum Industries - Treasury

© AP Photo / Iranian Presidency OfficePardis petrochemical complex facilities in Assalouyeh on the northern coast of the Persian Gulf, Iran, Tuesday, Sept. 4, 2018. Iranian President Hassan Rouhani said Tuesday his country will continue exporting crude oil despite U.S. efforts to stop it through sanctions
Pardis petrochemical complex facilities in Assalouyeh on the northern coast of the Persian Gulf, Iran, Tuesday, Sept. 4, 2018. Iranian President Hassan Rouhani said Tuesday his country will continue exporting crude oil despite U.S. efforts to stop it through sanctions - Sputnik International
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WASHINGTON (Sputnik) - The United States has imposed new Iran-related sanctions against six international petrochemical and petroleum companies and two persons accused of helping Iran skirt sanctions, the Treasury Department's Office of Foreign Assets Control (OFAC) said in a statement on Friday.
OFAC "took action against four international petrochemical and petroleum companies that have collectively transferred the equivalent of hundreds of millions of dollars’ worth of exports from the National Iranian Oil Company (NIOC), an entity instrumental in Iran’s petroleum and petrochemical industries, which helps to finance Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and its terrorist proxies," the Treasury said in a statement.

At the same time the State Department imposed sanctions on other companies and senior executives involved in the recent transport of petrochemical products from Iran, the Treasury said. OFAC's website indicated that a total of two individuals and six companies were targeted in the latest Iran-related designations.

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