US Imposes Fresh Sanctions on Entities Trading Iranian Petrochemicals

The United States imposed fresh sanctions on Iran on Tuesday, keeping up its economic pressure campaign even as it offered to help Tehran cope with the coronavirus pandemic and called on the Islamic Republic to release detained Americans. US Secretary of State Mike Pompeo  on Tuesday said the State Department is blacklisting nine entities based in South Africa, Hong Kong and China, as well as three Iranian individuals, for engaging in “significant transactions” to trade in Iranian petrochemicals.

While he did not name them, Pompeo said the step included blacklisting Iran’s armed forces social security investment company and its director for investing in sanctioned entities.

Separately, the Commerce Department said it will add six people - including five Iranian nuclear scientists - and 18 corporations to the US “Entity List” for aiding Iran’s nuclear program, Pakistan’s unsafeguarded nuclear and missile programs, and Russian military modernization efforts.

Without naming them, the Commerce Department said the move covers one company in Iran, two entities in China, nine in Pakistan, and five in the United Arab Emirates and will constrict the export of certain items to them.

The Entity List names foreign parties that are barred from receiving some or all items subject to US export regulations unless the exporter secures a license, according to the department.

On Monday, sources familiar with the matter who spoke on condition of anonymity because of the sensitivity of the issue said the United States was unlikely to ease sanctions on Iran despite an appeal from China that it do so because of the pandemic. - Reuters