US sanctions UAE, Hong Kong firms that ship Iranian oil

By FATIMA HUSSEIN
Associated Press

WASHINGTON (AP) — The U.S. has sanctioned a United Arab Emirates-based firm and several Asian companies for facilitating the illicit sale of millions of dollars’ worth of Iranian oil for shipment to East Asia. The latest round of sanctions targeting Iranian oil sales follows a July round against other firms and comes as the U.S. attempts to reenter the Iran nuclear agreement that President Donald Trump exited in May 2018. The sanctions also come ahead of OPEC+ meetings that begin this week, where the U.S. will press for increased oil production by oil cartel members, in hopes of reducing gas prices for American consumers.