On the 1st August 2022 The Joe Biden administration-imposed sanctions on six companies which have been found to be involved in export of Iran’s petroleum products.
The U.S. Department of the Treasury announced on Monday that it had targeted four companies that continued to engage in the overseas sales of petroleum products and petrochemical products by Iranian petrochemical giant Persian Gulf Petrochemical Industries Commercial.
Persian Gulf Petrochemical Industries Commercial is already subject to Treasury sanctions.
The U.S. State Department also said it had sanctioned two companies, Golden Warriors Shipping, which provided logistics support, such as shipping Iranian petroleum products.
The State Department also sanctioned Glory Harvest; a Panama shipping liquefied natural gas carrier owned by Golden Warriors Shipping.
Four companies, including Golden Warriors Shipping, are registered in China, while the other two are registered in Singapore and the United Arab Emirates, the Ministry of Finance said.
Secretary of State Tony Blincoln announced that the sanctions would include six companies that promote illegal trade in petroleum and petrochemical products, the main source of revenue for the Iranian government.
The sanctions are interpreted as measures to further increase the level of pressure on Iran as the West and Iran continue to struggle to return to the nuclear deal.