The United States unveiled a new sanctions package against Iran targeting facilitators of the country’s petroleum and petrochemical industries.
The sanctions were mainly aimed at East Asian companies accused of purchasing from a shipment of Iranian petroleum and petrochemicals, which Tehran relies on for considerable income.
Iran has had to rely on east Asian markets for their sales due to U.S. sanctions. The Treasury is now seeking to throttle this income stream as well.
“Iran increasingly turning to buyers in East Asia to sell its petrochemical and petroleum products, in violation of U.S. sanctions,” Undersecretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson said in a statement from the Treasury.
“The United States remains focused on targeting Tehran’s sources of illicit revenue, and will continue to enforce its sanctions against those who wittingly facilitate this trade,” he added.
The newly sanctioned companies are based out of Singapore and Malaysia.