News ID: 273692
Published: 0656 GMT September 03, 2020

US sanctions several companies over Iran

US sanctions several companies over Iran

The United States has imposed sanctions on a number of international companies, accusing them of enabling the shipment and sale of Iranian petrochemicals.

The Treasury Department’s action came on Thursday following last month’s crushing defeat to have extended an anti-Iran arms embargo at the UN Security Council. 

The Treasury said in a statement it slapped sanctions on six companies based in Iran, the United Arab Emirates and China, saying that it support Triliance Petrochemical Co. Ltd.

Meanwhile, the State Department said it also imposed sanctions on five entities accusing them of engaging in transactions related to Iran’s petroleum and petrochemical industry, as well as slapped restrictions on three individuals.

On August 14 US faced an embarrassing defeat at the UN Security Council when Russia and China voted against a resolution proposed by Washington to extend an expiring UN arms embargo against Iran and the remaining 11 council members, including France, Germany and the UK, abstained.

Only the Dominican Republic voted in favor of the US-drafted resolution.

The arms embargo is to expire in October under the Joint Comprehensive Plan of Action (JCPOA), a 2015 nuclear agreement between Iran and world powers that the US ditched in 2018.

Prior to the submission of the draft, many countries had cautioned the US that they would not fall into line with its anti-Iran bid as Washington had left the JCPOA, and, therefore, could not either benefit from or challenge any of its stipulations.

Speaking at a cabinet meeting on Wednesday, Iranian President Hassan Rouhani dismissed as ridiculous the US push to snap back international sanctions on Tehran.

Rouhani said that following its “unprecedented” and “scandalous” defeat at the UN Security Council to extend the anti-Iran arms embargo, the US resorted to the “snapback” mechanism enshrined in the Iran nuclear deal.

The president noted the US claim that it can use the sanctions snapback mechanism against Iran has domestic consumption and is part of a propaganda campaign ahead of the November 3 presidential election in the country.


Press TV and Reuters contributed to this story.

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