Arab Press

بالشعب و للشعب
Saturday, Feb 22, 2025

US targets Chinese, UAE companies in new Iran sanctions

US targets Chinese, UAE companies in new Iran sanctions

US official says absent return to nuclear deal, Washington will use sanctions to limit Iranian petrochemical exports.

The United States has imposed sanctions on Chinese and Emirati companies, as well as a network of Iranian petrochemical producers, accusing them of helping to “evade sanctions” by supporting the sale of Iran’s petrochemical products abroad.

In a statement on Thursday, the US Department of the Treasury said it had imposed penalties on two companies based in Hong Kong, three in Iran, and four in the United Arab Emirates.

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

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

“Absent a deal, we will continue to use our sanctions authorities to limit exports of petroleum, petroleum products, and petrochemical products from Iran.”




Former US President Donald Trump unilaterally withdrew from the JCPOA in 2018 and started a “maximum pressure” campaign of sanctions against the Iranian economy that his successor Joe Biden has continued to enforce.

Tehran has been escalating its programme in response to Washington’s withdrawal from the pact.

Iranian officials say they want all US sanctions lifted immediately, while the Biden administration is calling for a mutual return to compliance that would see an end to nuclear-related sanctions and a scaling back of Iran’s nuclear programme.

But several rounds of negotiations have been unsuccessful in restoring the agreement.

One of the key sticking points appears to be the US designation of Iran’s Islamic Revolutionary Guard Corps (IRGC) as a “foreign terrorist organization”. Tehran wants the designation lifted, but Washington so far has been reluctant to do it.

Iran’s deputy foreign minister for economic diplomacy dismissed the new US sanctions on Thursday as ineffective.

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




Henry Rome, deputy head of research at the Eurasia Group, said the sanctions may aim both to raise pressure on Iran and to blunt US domestic critics who have argued that Biden has failed to rein in Iran’s nuclear programme.

“Washington is likely aiming to raise the costs for Iran of a continued no-deal scenario while also deflecting domestic and foreign criticism that it is allowing its Iran policy to drift,” Rome told the Reuters news agency.

He added that any single sanctions action was unlikely to change thinking in Iran or China absent a broader strategy.

China has remained the top buyer of Iranian oil, while India reluctantly ended imports under US pressure.

“Indeed, Tehran may calculate that given the state of the oil market and global inflationary pressures, a concerted [US] campaign to collapse Iranian energy exports to Trump-era levels is not in the cards in the near term,” Rome said.

Newsletter

Related Articles

Arab Press
0:00
0:00
Close
The negotiation teams of Trump and Putin meet directly, establishing the groundwork for a significant advance.
Israeli Minister Urges Hamas to Surrender and Depart from Gaza.
Iran Considers Moving Its Capital Due to Urban Difficulties
Israel and Hamas Finalize Sixth Exchange of Hostages and Prisoners During Continuing Gaza Ceasefire
Leaders of BRICS to Gather in Rio de Janeiro for July Summit
Muhsin Hendricks, a trailblazing openly gay imam, was killed in South Africa.
Trump's special envoy for hostage affairs cautions Hamas against challenging Trump before Saturday's deadline.
Two British citizens apprehended in Iran amid escalating tensions.
Israel Issues Threat of Military Action as Hostage Negotiations with Hamas Continue
Hamas Coordinates Worldwide Solidarity Marches in Reaction to U.S. and Israeli Initiative
Israel Warns of Ending Gaza Ceasefire Due to Hostage Situation
King Abdullah II Dismisses US Proposal to Relocate Palestinians, Commits to Welcoming Gaza Children.
Lebanon Installs New Government with Hezbollah's Impact on Key Ministries
Report: Iran Attempted to Assassinate Trump During Election Campaign
U.S. Authorizes $7.4 Billion Arms Sale to Israel
Iran's Supreme Leader Rejects Nuclear Negotiations with the U.S.
UN Chief Denounces Trump's Gaza Plan, Cautions Against Ethnic Cleansing
Pressure Intensifies for a Free Trade Agreement between the UK and GCC in Light of Economic Difficulties
Israel to Withdraw from UN Human Rights Council Due to Accusations of Anti-Semitism
EU Reaffirms Gaza's Essential Role in Future Palestinian State Following Trump's Proposal
Iranian Currency Reaches All-Time Low Amid US 'Maximum Pressure' Initiative.
UN Reaffirms Ban on Deportation from Occupied Territories Amid US Gaza Proposal
Palestinians Fear Repeat of 'Nakba' Amid Ongoing Crisis in Gaza
UAE Aids in the Exchange of 300 Prisoners Between Russia and Ukraine
Egypt Seeks Global Backing for Two-State Solution Following US Proposal for Gaza Plan
Trump's Suggestion to 'Seize Control' of Gaza Represents a Significant Shift in US Policy
French President is the first EU leader to extend congratulations to the new Syrian President.
Tunisian President Appoints New Finance Minister Amid Economic Crisis
Trump Suggests U.S. 'Takeover' of Gaza, Prompting Global Worries
Trump's Proposal for Gaza Provokes Global Debate
President Trump Suggests Moving Gaza's Palestinian Population
Aga Khan IV, Spiritual Leader and Philanthropist, Dies at 88
Erdogan and Syria's Sharaa Talk About Collaboration to Counter Kurdish Militants
Trump Suggests U.S. Control of Gaza Strip Amid Ongoing Conflict
Trump Resumes 'Maximum Pressure' Strategy to Limit Iran's Oil Exports.
Ex-British Soldier Sentenced for Espionage on Behalf of Iran and Fleeing from Prison
Gazans in Egypt Reject Displacement, Struggle with Return to War-Torn Home
Queen Rania Urges Protection of Children’s Rights at Vatican Summit
Hamas Officials Ready to Begin Negotiations for Phase Two of Gaza Truce
Trump Expresses Caution Over Gaza Ceasefire as Netanyahu Visits Washington
Oman to Host 18th Indian Ocean Conference on Maritime Security and Trade
Emir of Kuwait Meets BlackRock CEO for Talks on Investment Opportunities
Queen Rania of Jordan Calls for Global Action on Children’s Rights at Vatican Summit
Egyptian President El-Sisi Invited for White House Meeting Following Jordanian King’s Visit
Queen Rania Calls for Protection of Children’s Rights at Vatican Summit
Israeli Military Operations Continue on Lebanon Border Amid Ceasefire Tensions
Israeli Hostage's Release Highlights Uncertainty Over Family's Fate
Israeli Military Operations Escalate in Southern Lebanon Amid Hezbollah Tensions
Zayed Award for Human Fraternity Announces 2025 Honorees
Kuwait Anticipates a 12% Increase in Budget Deficit for the 2025-2026 Fiscal Year
×