Arab Press

بالشعب و للشعب
Tuesday, Mar 17, 2026

U.S. blacklists 11 companies for aiding Iran's export of petroleum

U.S. blacklists 11 companies for aiding Iran's export of petroleum

In a move to block Iran from a key revenue source, the Trump administration on Thursday blacklisted 11 foreign companies that aid Iran in the sale of its petroleum and petroleum products in violation of U.S. sanctions.
The Treasury sanctioned six companies based in Iran, the United Arab Emirates and China for supporting the sale and shipment of Iranian petrochemical products through hiding their place of origin -- Triliance Petrochemical, which was designated by the Treasury in January.

The Department of State sanctioned five Iranian, Chinese and UAE companies and three individuals who serve as principal executive officers at those entities, which the United States accuses of purchasing, acquisitioning, selling, transporting or marketing Iran's petroleum products.

The moves are the latest in the Trump administration's so-called extreme pressure campaign that began when President Donald Trump slapped sanctions against Iran and pulled the United States from an Obama era-nuclear accord aimed at preventing Tehran from acquiring a nuclear weapon in 2018.

The Treasury said Thursday that Iranian petrochemical sales are a key source of funds to the sanction-hobbled Iran and helps to finance its destabilizing activities and prop up regimes and terrorist groups throughout the Middle East and Venezuela where the United States has also been tightening its political and economic vises to oust its embattled president, Nicolas Maduro.

"The Iranian regime uses revenue from petrochemical sales to continue its financing of terrorism and destabilizing foreign agenda," said Treasury Secretary Steven Mnuchin.

"The Trump administration remains committed to targeting those contributing to Iran's attempts to evade U.S. sanctions by facilitating the illicit sale of Iranian petroleum products around the world."

Triliance was sanctioned early this year along with three other petrochemical and petroleum companies for transferring hundreds of millions of dollars' worth of exports from the National Iranian Oil Company, which supports Iran's Islamic Revolutionary Gaurd Corps -- an arm of the Iranian military that the State Department designated as a Foreign Terrorist organization in April of 2019.

The Treasury accuses Triliance of using front companies in the sale of petroleum products and the companies it sanctioned Thursday aid Iran in the export of those products.

Of the companies blacklisted, the Hong Kong-based Zagros Petrochemical Company was designated for agreeing to sell hundreds of thousands of metric tons of petrochemicals to Triliance, which used the UAE-based Petrotech to buy the products on its behalf and hide its involvement in the deal. Petrotech was also sanctioned Thursday.

The sanctions freeze all U.S. assets of those blacklisted and prohibit Americans from doing business with them or risk being sanctioned themselves.

The Treasury also sanctioned Trio Energy DMCC, Jingho Technology Co. Ltd., Dynapex Energy Ltd. and Dinrin Ltd. for their efforts to hide Triliance's involvement in petrochemical trades.

The State Department sanctioned Iran-based Abadan Refining Company, UAE-based Chemtrans Petrochemicals Trading LLC and China-based Zhihang Ship Management Co. Ltd., New Far International Logistics LLC and Sino Energy Shipping Ltd.

Min Shi of New Far, Zuoyou Lin of Sino Energy and Alireza Amin of Abadan were also blacklisted by the State Department.

"Our actions today reaffirm the United States' commitment to denying the Iranian regime the financial resources it needs to fuel terrorism and other destabilizing activities," U.S. Secretary of State Mike Pompeo said in a statement.

"We call on the regime yet again to stop undermining the Iranian people's prosperity by exploiting Iran's natural resources to sow chaos and destruction."
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Saudi Arabia Targets South African Professionals in New Recruitment Drive Amid Regional Uncertainty
Formula One Faces Major Financial Hit as Bahrain and Saudi Arabian Grands Prix Cancelled Amid Middle East Conflict
U.S. and Saudi Firms Launch Local Production of Attritable Drone Systems in Saudi Arabia
Saudi Arabia and UAE Warn Rising Gulf Tensions Could Endanger Regional Security
Saudi Arabia Rejects Claims It Encouraged Prolonged War With Iran
Saudi Arabia to Host World’s Largest Single-Cell Protein Plant as Food Security Push Accelerates
Saudi Crown Prince Urges Trump to Continue Military Pressure on Iran
Iran Intensifies Drone Campaign Against Saudi Arabia as Gulf Conflict Escalates
When Is Eid al-Fitr 2026? Saudi Arabia Awaits Moon Sighting to Confirm End of Ramadan
When Is Eid al-Fitr 2026? Saudi Arabia Awaits Moon Sighting to Confirm End of Ramadan
Iranian Missile Strike Damages Five U.S. Refueling Aircraft at Saudi Air Base
Iranian Missile Strike Damages Five U.S. Refueling Aircraft at Saudi Air Base
Washington State Pilot Among Six U.S. Airmen Killed in Military Aircraft Crash Over Iraq
Severe Storm Threat Looms Over Washington as Tornado Risk and Damaging Winds Target Mid-Atlantic
Trump Supports FCC Warning to Broadcasters Over Iran War Reporting
Trump Supports FCC Warning to Broadcasters Over Iran War Reporting
Saudi Stocks Edge Lower as Tadawul All Share Index Slips Slightly at Market Close
Iranian Missile and Drone Strike Targets Saudi Arabia’s Prince Sultan Air Base Hosting US Aircraft
Saudi Air Defenses Intercept Drone Over Eastern Province as Iranian Strike Campaign Intensifies
Middle East War Reshapes Gulf Economies as Saudi Arabia and Oman Gain Strategic Leverage While UAE Faces Economic Shock
Iranian Ambassador in Riyadh Blames ‘Enemies’ for Attacks Across the Gulf
Israeli Envoy Ron Dermer Reportedly Visits Saudi Arabia for Discussions on Potential Lebanon Talks
Formula One Cancels Bahrain and Saudi Arabian Grands Prix Scheduled for April
Iran’s Ambassador in Riyadh Rejects Claims Tehran Targeted Saudi Oil Facilities
Saudi Arabia Declares 2026 ‘Year of Artificial Intelligence’ in Major Push for Data-Driven Economy
Saudi Arabia’s 2018 Budget Signals Strong Push for Non-Oil Economic Growth
Pakistan Envoy in Riyadh Says Regional Diplomacy Intensifying to Prevent Wider Middle East War
Saudi Arabia Intercepts Dozens of Drones as Regional Strikes Kill Two in Oman
Saudi Arabia Redirects Oil Exports to Red Sea Ports as Strait of Hormuz Tensions Escalate
Saudi Arabia Intercepts Missile and Drone Barrage as Regional Conflict Intensifies
Iran Expands Drone and Missile Campaign Across Gulf as Conflict With US and Israel Intensifies
Muslims Worldwide Await Saudi Moon Sighting to Confirm Eid al-Fitr 2026 Date
F1 Calendar Faces Major Disruption as Middle East Conflict Threatens Bahrain and Saudi Races
Trump Says Most US Aircraft Hit in Saudi Base Attack Suffered Minimal Damage
Trump Says Most US Aircraft Hit in Saudi Base Attack Suffered Minimal Damage
Strait of Hormuz Crisis Forces Saudi Arabia Into Major Oil Production Shut-In
Strait of Hormuz Crisis Forces Saudi Arabia Into Major Oil Production Shut-In
Saudi Arabia Slashes Oil Output as Strait of Hormuz Crisis Cuts Deep Into Gulf Revenues
Saudi Arabia’s Cultural Scene Presses Ahead as Nation Navigates Regional War
Saudi-Pakistan Defence Pact Faces Real-World Constraints as Iran War Escalates
Saudi Arabia Offers Two Million Barrels of Crude From Red Sea as War Disrupts Gulf Exports
Formula One Faces Tens of Millions in Lost Revenue if Bahrain and Saudi Arabia Races Are Cancelled
Formula One Set to Cancel Bahrain and Saudi Arabian Grands Prix Amid Escalating Middle East War
Saudi Arabia Downs Dozens of Iranian Drones in Major Defensive Operation
Saudi Arabia Cuts Oil Output by About Twenty Percent as Iran War Disrupts Gulf Energy Flows
Formula One Set to Cancel Bahrain and Saudi Arabian Grands Prix Amid Escalating Iran War
Asian Energy Security Tested as Strait of Hormuz Disruption Threatens Oil Supplies
Iran Sets Three Conditions for Ending Regional War as Diplomatic Efforts Intensify
Saudi Arabia Launches Royal Institute of Anthropology to Examine Social Transformation
Pakistan’s Prime Minister Shehbaz Sharif Arrives in Saudi Arabia for High-Level Talks
×