Thursday, October 22, 2020

Washington slaps sanctions on Chinese company for entering into oil deal with Iran

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

The United States has slapped sanctions on Chinese company Zhuhai Zhenrong and its president for buying oil from Iran in violation of US sanctions against Iran.

US Secretary of State Mike Pompeo said this came within the framework of measures taken by the United States as part of the campaign of economic pressure on the Iranian regime, which Washington has confirmed will be fully implemented.

He added that this would deprive the Iranian regime of significant funding sources to Iran seeking to finance terrorism around the world, participate in foreign conflicts and development of ballistic missiles, stressing that the Tehran regime must stop these destabilizing activities.

He said that the Chinese company was involved in a large deal to buy crude oil from Iran after the grace period granted to Chinese companies in this regard and ended on May 2 last.

Such penalties include the freezing of any property and interests of the Chinese company on the territory of the United States or in the possession of an American person. Such property or interests shall not be dealt with by transport or export, payment or withdrawal of payments.

The United States also imposed other restrictions and banned the United States from entering the “Yu Min Li” president of the Chinese company, and the Treasury Department will include the Chinese company and its chairman to the list of prohibitions.

The US minister said that any entity that thinks of evading US sanctions should take this action into account, which affirms the United States commitment to implement punitive measures for Tehran and to hold its regime accountable for what it is doing and preventing it from funding sources to implement a destructive foreign policy and deprive the people of this wealth.

He stressed the need for all entities to be able to be immune from the entities of Iran subject to sanctions and not to support Tehran or the Revolutionary Guards or other teams supported by this system.

Read also: US imposes sanctions on global network working for Iran’s uranium enrichment program

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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