US Targets Chinese, UAE Companies In New Iran Sanctions

The United States has imposed sanctions on Chinese and Emirati companies, as well as a network of Iranian petrochemical producers, accusing them of helping to evade sanctions by supporting the sale of Iran’s petrochemical products abroad. <br />The US Department of the Treasury says it had imposed penalties on two companies based in Hong Kong, three in Iran, and four in the United Arab Emirates. <br />Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E Nelson says the United States is pursuing the path of meaningful diplomacy to achieve a mutual return to compliance with the Joint Comprehensive Plan of Action.