US Imposes Sanctions on Companies Related to Iran’s Petrochemical Industry.

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Today, the United States of America imposed sanctions against the prominent companies helping Iran to evade U.S. sanctions and doing illicit business with Iran.

In a press statement by US State Department Spokesperson Jen Psaki in Washington DC, came the announcement that the Administration imposed sanctions today under Executive Orders (E.O.) 13622 and 13599 on a series of companies related to Iran’s petrochemical industry.

She says the actions underscore U.S. resolve to cut off funds from the Iranian petrochemical sector as the second largest revenue source for Iran’s illicit nuclear program.

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Iran manufactures 6070% of its industrial equipment domestically, including refineries, oil tankers, drilling rigs, offshore platforms and exploration instruments.

Ms. Psaki named Jam Petrochemical Company and Niksima Food and Beverage JLT pursuant to E.O. 13622 for knowingly engaging in a significant transaction for the purchase or acquisition of petrochemical products from Iran.

She indicates that Jam Petrochemical Company is an Iranian manufacturer and seller of petrochemicals. Similarly, Niksima Food and Beverage JLT received payments on behalf of Jam Petrochemical Company.

What Is The Coverage Of The Sanctions?

According to Ms. Psaki, the sanctions selected for both companies prohibit: financial transactions subject to U.S. jurisdiction, transactions with respect to property and interests in property under U.S. jurisdiction, and foreign exchange transactions subject to U.S. jurisdiction.

Eight Iranian Petrochemical Companies Also Sanctioned

Ms. Psaki announced that the Department of the Treasury also identified eight Iranian petrochemical companies as owned or controlled by the Government of Iran.

Under Executive Order 13608, the Department of State and the Department of the Treasury took actions to impose sanctions, including a visa ban on corporate officers, on Ferland Company Limited (Ferland) under both the Iran Sanctions Act, as amended by the Iran Threat Reduction and Syria Human Rights Act of 2012 (TRA), and Executive Order 13608 for efforts to evade U.S. sanctions on Iran.

According to Ms. Psaki, Ferland and the National Iranian Tanker Company (NITC) cooperated in a scheme to sell Iranian crude oil deceptively in order to help Iran evade international sanctions in March 2013. The operation involved a vessel owned by Dimitris Cambis, a Greek national sanctioned by the Department of State and identified by the Department of the Treasury in March 2013.

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Abadan Oil Refinery, Catalitic Facilities.

Ms. Psaki announces that the sanctions imposed by the Department of State against Ferland prohibit: U.S. visas for corporate officers, loans from U.S. financial institutions, financial transactions subject to U.S. jurisdiction, transactions with respect to property and interests in property under U.S. jurisdiction, and foreign exchange transactions subject to U.S. jurisdiction. Separately, the sanctions imposed by the Department of the Treasury on Ferland generally prohibit U.S. persons from engaging in any transactions with that entity.

International Sanctions Effort Aimed At Convincing Iran To Change Its Behavior

Ms. Psaki points out that US makes clear the risks involved in helping Iran evade sanctions and reaffirms that the only relief Iran will get from sanctions must come through negotiations. Iran continues to ignore its international nuclear obligations, and the result of these actions has been an unprecedented international sanctions effort aimed at convincing Iran to change its behavior.

“The sanctions announced today represent an important step toward that goal, as they target the individual companies that help Iran evade these efforts.” – Ms. Psaki

In addition, the sanctions send a stark message that the United States will act resolutely against attempts to circumvent U.S. sanctions, she highlighted.

She indicates that any business that continues irresponsibly to support Iran’s energy sector or to help facilitate the nation’s efforts to evade U.S. sanctions will face serious consequences.

History Of US Imposed Sanctions On Iran

In June 2011, the United States of America have imposed several sanctions on Iran. The United States imposed sanctions on Tidewater Middle East Company, an operator of Iranian ports owned by the Islamic Revolutionary Guard Corps (IRGC) that has links to Iranian proliferation activities.

The United States has also imposed sanctions against Iran Air, which was designated for providing material support and services to the IRGC and Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL), and also has facilitated proliferation-related activities.

The European Union as well has imposed sanctions against Iran. The EU bans imports of Iranian crude oil and petroleum products, freeze the assets of the Iranian central bank, and take additional action against Iran’s energy, financial, and transport sectors.

The measures was agreed by the EU Foreign Affairs Council which are another strong step in the international effort to dramatically increase the pressure on Iran.

The Ministry of Intelligence and National Security of the Islamic Republic of Iran is the secret police and primary intelligence agency of the Islamic Republic of Iran. It is considered an important element of the Iranian government’s security apparatus. It is well funded and equipped.

In 1999, The Ministry was held responsible for the serial murders of dissident writers and intellectuals.

Mina Fabulous follows the news, especially what is going on in the US State Department. Mina turns State Department waffle into plain English. Mina Fabulous is the pen name of Carmen Avalino, the NewsBlaze production editor. When she isn’t preparing stories for NewsBlaze writers, she writes stories, but to separate her editing and writing identities, she uses the name given by her family and friends.