U.S. imposes sanctions on petrochemical companies

The United States on Thursday said it blacklisted two companies based in Hong Kong, one in Shanghai and one in Dubai for helping Iran's state-owned National Iranian Oil Company (NIOC) export millions of dollars of goods in violation of U.S. sanctions, as reported by Reuters. The U.S. Treasury Department said it imposed sanctions on the Hong Kong-based Triliance Petrochemical Co. Ltd and Sage Energy HK Limited, China-based Peakview Industry Co Ltd and United Arab Emirates-based Beneathco DMCC.
The sanctions would freeze all assets held by the companies that fall under U.S. jurisdiction, generally bar U.S. companies and individuals from dealing with them, and potentially subject non-U.S. financial institutions that knowingly facilitate "significant transactions" for them to U.S. sanctions.