US imposes sanctions on several companies over Iran

The United States has imposed sanctions on several international companies, accusing them of enabling the shipment and sale of Iranian petrochemicals.

According to Press TV, the Treasury Department’s action came on Thursday following last month’s crushing defeat to have extended an anti-Iran arms embargo at the UN Security Council.  

The Treasury said in a statement it imposed sanctions on six companies based in Iran, the United Arab Emirates and China, saying that they support Triliance Petrochemical Co. Ltd.

Meanwhile, the State Department said it also imposed sanctions on five entities accusing them of engaging in transactions related to Iran’s petroleum and petrochemical industry, as well as imposed restrictions on three individuals.

On August 4 at the UN Security Council, only the Dominican Republic voted in favor of the US-drafted resolution that was vetoed by China and Russia, and abstained by the 15-member Security Council’s remaining constituents.

The embargo is expected to expire in October under the Joint Comprehensive Plan of Action (JCPOA), a 2015 nuclear agreement between Iran and the 5+1 group that the US ditched in 2018. Prior to the submission of the draft, many countries had cautioned the US that they would not fall into line with its anti-Iran bid as Washington had left the JCPOA, and, therefore, could not either benefit from or challenge any of its stipulations.

Washington then tried returning all of the UN Security Council sanctions against Iran, but was similarly snubbed by the overwhelming majority of Security Council members.

Thirteen Council members argue that Washington’s attempt to reimpose UN sanctions on Iran is void as it is using a process agreed under the JCPOA, which the United States quit in defiance of international criticism.