March 25, 2023

Persian News

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U.S. slaps fresh sanctions on Iranian entities, firms

TEHRAN – As part of a “shadow banking” network that transfers billions of dollars, the United States has slapped sanctions on 45 firms and one person, many of which are domiciled in the United Arab Emirates and Hong Kong, that it claims help Iran access the international financial system.

In a statement released on Thursday, the U.S. Treasury Department claimed that those targeted for sanctions had helped companies previously subject to sanctions related to Iran, like Persian Gulf Petrochemical Industry Commercial Co (PGPICC) and Triliance Petrochemical Co Ltd, gain access to the global financial system and conceal their business dealings with foreign clients.

Washington has also targeted Chinese corporations over the sale of Iranian petrochemicals.

The United States has slapped sanctions against an alleged network with headquarters in China, alleging that it is assisting Iran in acquiring unmanned aerial vehicles (UAV).

The Office of Foreign Assets Control (OFAC) of the U.S. Department of the Treasury imposed penalties on Thursday on “a network of five firms and one individual for aiding Iran’s UAV procurement efforts,” according to a statement from the Treasury.

It said, “The network is in charge of the sale and distribution of thousands of aerospace components, including components that may be utilized for UAV applications.”

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