According to the U.S Department Of The Treasury press release on September 29, 2022, the United States is taking further action to disrupt efforts to evade sanctions on the sale of Iranian petroleum and petrochemical products. Specifically, the Department of State is imposing sanctions on two People’s Republic of China (PRC)-based entities: Zhonggu Storage and Transportation Co. Ltd., which operates a commercial crude oil storage facility for Iranian petroleum that provides a vital conduit for the Iranian petroleum trade, as well as WS Shipping Co. Ltd., the ship manager for a vessel that has transported Iranian petroleum products. The Department of the Treasury is also designating eight entities for their involvement in Iran’s petrochemical trade. These entities are based in Hong Kong, Iran, India, and the United Arab Emirates.
These designations are made pursuant to Executive Order 13846, which authorizes the imposition of sanctions with respect to trade in Iranian petroleum, petroleum products, and petrochemical products.
As Iran continues to accelerate its nuclear program in violation of the JCPOA, we will continue to accelerate our enforcement of sanctions on Iran’s petroleum and petrochemical sales under authorities that would be removed under the JCPOA. These enforcement actions will continue on a regular basis, with an aim to severely restrict Iran’s oil and petrochemical exports. Anyone involved in facilitating these illegal sales and transactions should cease and desist immediately if they wish to avoid U.S. sanctions.
For more information on the action, please see the Department of the Treasury’s press release.
