Treasury sanctions Iranian petrochemical firms tied to Asia

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The Treasury Department said Wednesday that it has sanctioned a group of front companies and individuals tied to the sale and shipment of Iranian petroleum and petrochemical products to East Asia. Treasury’s Office of Foreign Assets Control imposed the sanctions on several companies, including, Iran-based Jam Petrochemical Co. which has exported hundreds of millions of dollars worth of products to companies throughout Asia, including China. The administration uses an August 2018 executive order signed by then-President Donald Trump as its authority to impose the sanctions.