Washington sanctions Chinese and Emirati companies — RT Business News

Chinese and Emirati companies, as well as a network of Iranian petrochemical producers, have been hit with secondary US sanctions for helping Tehran “escaping punishment” by supporting the sale of its petrochemical products on international markets.

The sanctions were introduced against two companies based in Hong Kong, three in Iran and four in the United Arab Emirates, according to a statement released by the US Treasury Department on Thursday.

All interests in the property of companies under US jurisdiction have been blocked and those who deal with them may also be sanctioned or penalized under certain circumstances.

The sentences were also imposed on Chinese citizen Jinfeng Gao and Indian national Mohammed Shaheed Ruknooddin Bhore.

“The United States is pursuing a path of meaningful diplomacy to achieve a mutual return to compliance with the Joint Comprehensive Plan of Action,” Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E Nelson made reference to the Iran nuclear deal.

“In the absence of an agreement, we will continue to use our sanctions authorities to limit exports of oil, petroleum products and petrochemicals from Iran,” he added.

The “maximum pressure” The sanctions campaign against the Islamic Republic was launched by former US President Donald Trump, who unilaterally withdrew from the JCPOA, also known as the Iran nuclear deal, in 2018. The anti-Iran policy has been applied by Trump’s successor, Joe Biden.

The agreement was signed in 2015 between Iran, the United States, Germany, the United Kingdom, France, China and Russia, and provided for the lifting of all sanctions in exchange for a reduction Iran’s nuclear program.

Tehran stepped up its nuclear program in response to Washington’s withdrawal from the pact.

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The latest sanctions have been dismissed by Iran’s Deputy Foreign Minister for Economic Diplomacy as ineffective.

“Our petrochemical industry and its products have long been under sanctions, but our sales have continued through various channels and will continue to do so,” Mehdi Safari told Iranian state television.

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