Sunday, 27 Jul 2025
America Age
  • Trending
  • World
  • Politics
  • Opinion
  • Business
    • Economy
    • Real Estate
    • Money
    • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion / Beauty
    • Art & Books
    • Culture
  • Health
  • Sports
  • Entertainment
Font ResizerAa
America AgeAmerica Age
Search
  • Trending
  • World
  • Politics
  • Opinion
  • Business
    • Economy
    • Real Estate
    • Money
    • Crypto & NFTs
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Travel
    • Fashion / Beauty
    • Art & Books
    • Culture
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 America Age. All Rights Reserved.
America Age > Blog > World > Treasury sanctions Iranian petrochemical firms tied to Asia
World

Treasury sanctions Iranian petrochemical firms tied to Asia

Enspirers | Editorial Board
Share
Treasury sanctions Iranian petrochemical firms tied to Asia
SHARE

WASHINGTON (AP) — The Treasury Department said Wednesday that it has sanctioned a group of front companies and individuals tied to the sale and shipment of Iranian petroleum and petrochemical products to East Asia.

Treasury’s Office of Foreign Assets Control imposed the sanctions on several companies, including Iran-based Jam Petrochemical Co., which has exported hundreds of millions of dollars worth of products to countries throughout Asia, including China.

The administration uses an August 2018 executive order signed by then-President Donald Trump as its authority to impose the sanctions.

The order addresses “threats posed by Iran, including Iran’s proliferation and development of missiles and other asymmetric and conventional weapons capabilities, its network and campaign of regional aggression,” and other issues.

Brian E. Nelson, Treasury’s undersecretary for terrorism and financial intelligence, said in a statement that while the U.S. “is committed to achieving an agreement with Iran that seeks a mutual return” to the Iran nuclear deal, “we will continue to use all our authorities to enforce sanctions on the sale of Iranian petroleum and petrochemicals.”

Iran is nursing a battered economy, with its currency hitting its lowest value ever, after the U.S. withdrew from the nuclear deal in May 2018.

President Joe Biden’s administration has been working to renew the agreement, which placed curbs on Iran’s nuclear program in exchange for billions of dollars in sanctions relief, which Iran insists it has never received.

In June, Iran said it is ready for new indirect talks to overcome the last hurdles to revive its tattered 2015 nuclear deal amid a growing crisis over the country’s atomic program.

Treasury also designated United Arab Emirates-based Iranian nationals Morteza Rajabieslami and Mahdieh Sanchuli for sanctions.

Also on Wednesday, the State Department imposed penalties on five entities and 15 people located in Iran, Vietnam, Singapore, Hong Kong and the United Arab Emirates.

“Absent a change in course from Iran, we will continue to use our sanctions authorities to target exports of petroleum, petroleum products, and petrochemical products from Iran,” a State Department statement reads.

Share This Article
Twitter Email Copy Link Print
Previous Article The Latin of Software Code Is Thriving The Latin of Software Code Is Thriving
Next Article Treasury announces sanctions targeting cheap Iranian oil heading for China Treasury announces sanctions targeting cheap Iranian oil heading for China

Your Trusted Source for Accurate and Timely Updates!

Our commitment to accuracy, impartiality, and delivering breaking news as it happens has earned us the trust of a vast audience. Stay ahead with real-time updates on the latest events, trends.
FacebookLike
TwitterFollow
InstagramFollow
LinkedInFollow
MediumFollow
QuoraFollow
- Advertisement -
Ad image

Popular Posts

Austrian leader said he’s not ‘particularly optimistic’ following his talks with Putin

Austrian Chancellor Karl Nehammer attends a news conference after talks with Russian President Vladimir Putin…

By Enspirers | Editorial Board

Israel’s Ukraine Policy Prompts Scrutiny of Russian-Israeli Oligarchs

JERUSALEM — When Avigdor Liberman, Israel’s Soviet-born finance minister, condemned the apparent atrocities in Bucha,…

By Enspirers | Editorial Board

There’s no evidence Putin is using cryptocurrencies to dodge sanctions — and Russia’s too big for that anyway, crypto experts tell lawmakers

Ukrainians gather in front of the White House in Washington to stage a protest against…

By Enspirers | Editorial Board

Bindi Irwin Says Baby Grace Is ‘Captivated’ by Videos of the Late Steve Irwin: ‘Utter Fascination’

Bindi Irwin rolloutrobert irwin Bindi Irwin and Chandler Powell's daughter Grace Warrior, 13 months, is…

By Enspirers | Editorial Board

You Might Also Like

Victorian Labor occasion members to push for ‘immediate’ federal recognition of a Palestinian state
World

Victorian Labor occasion members to push for ‘immediate’ federal recognition of a Palestinian state

By Enspirers | Editorial Board
Pictures of youngsters ravenous in Gaza have shaken some world leaders out of inertia – however what’s going to Labor do?
World

Pictures of youngsters ravenous in Gaza have shaken some world leaders out of inertia – however what’s going to Labor do?

By Enspirers | Editorial Board
Israel pronounces day by day army pauses as fury mounts over hunger in Gaza
World

Israel pronounces day by day army pauses as fury mounts over hunger in Gaza

By Enspirers | Editorial Board
‘That idiot Putin wants to take it all’: Russia’s kamikaze ways gas a gradual advance in Ukraine
World

‘That idiot Putin wants to take it all’: Russia’s kamikaze ways gas a gradual advance in Ukraine

By Enspirers | Editorial Board
America Age
Facebook Twitter Youtube

About US


America Age: Your instant connection to breaking stories and live updates. Stay informed with our real-time coverage across politics, tech, entertainment, and more. Your reliable source for 24/7 news.

Company
  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement
Contact Us
  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability
Terms of Use
  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices
© 2024 America Age. All Rights Reserved.
Welcome Back!

Sign in to your account

Lost your password?