The US Treasury on Thursday sanctioned nine entities that have played a key role in the production, sale and shipment of hundreds of millions of dollars worth of Iranian petrochemicals, the Treasury Department said Thursday.
Those sanctioned are six Iran-based petrochemical manufacturers or their subsidiaries, and three companies in Malaysia and Singapore involved in facilitating the sale and shipment of petroleum and petrochemical products on behalf of Triliance Petrochemical, which the Office of Foreign Assets Control (OFAC) designated in 2020.
Among those sanctioned is Iran's Amir Kabir Petrochemical Company (AKPC), a major polyethylene producer, for purchasing millions of dollars worth of low-density polyethylene (LDPE) produced by AKPC for shipment to buyers in China.
The Asian companies designated are Singapore-based Asia Fuel PTE, which since late 2021 has facilitated the shipment of millions of dollars worth of petroleum products to customers in East Asia.
Also Sense Shipping and Trading, a Kuala Lumpur-based front company for Triliance, which has facilitated Triliance's shipment of tens of thousands of metric tonnes of petrochemicals to overseas customers.
And Singapore-based Unicious Energy, which plays an important role in the Triliance network, coordinating millions of dollars in oil-related payments for other companies within the network and assisting Triliance in the sale of hundreds of millions of dollars in petroleum products.
All property and interests in the property of these targets that are in the United States or in the possession or control of U.S. persons should be blocked and reported to OFAC.