U.S. Blacklists Foreign Companies Allegedly Supporting Iran’s Petroleum Sector

January 23, 2020

Author: 

Mengqi Sun

Publication: 

Wall Street Journal

Related Country: 

  • China
  • United Arab Emirates
  • United States

The United States sanctioned four companies for facilitating Iran’s petrochemical and petroleum exports: Hong Kong-based Triliance Petrochemical Co., Hong Kong-based Sage Energy HK Ltd., Shanghai-based Peakview Industry Co., and Dubai-based Beneathco DMCC. According to the U.S. Treasury Department, the companies transferred the equivalent of hundreds of millions of dollars to National Iranian Oil Company (NIOC) as payment for Iranian exports. The Treasury Department is authorized to impose secondary sanctions for activity related to state-run NIOC, which it accuses of financing the Islamic Revolutionary Guard Corps (IRGC) Quds Force.