US sanctions nine firms over Iranian petrochemical and oil sales to Asia

The US Treasury's Office of Foreign Assets Control (OFAC) on 9 February sanctioned nine entities that it says helped produce, sell and ship hundreds of millions of dollars' worth of Iranian petrochemicals and petroleum to buyers in Asia. Six are Iranian petrochemical companies, including Amir Kabir Petrochemical Company. The other three are tied by Treasury to Triliance Petrochemical, designated in 2020: Singapore-based Asia Fuel and Unicious Energy, and Sense Shipping and Trading of Kuala Lumpur, which Treasury calls a front company that shipped tens of thousands of tonnes of petrochemicals. Treasury says Asia Fuel also paid storage fees for petroleum products held on a floating storage vessel based in Malaysia.

This is a summary in our own words of the linked reporting. Allegations are those of the source. How we report.