The U.S. on Thursday imposed sanctions on five United Arab Emirates (UAE)-based companies accused of facilitating Iran’s petroleum and petrochemical sales.
“In 2019, these five companies collectively purchased hundreds of thousands of metric tons of petroleum products from the National Iranian Oil Company (NIOC),” the Treasury Department said in a statement.
The listed firms are Petro Grand FZE, Alphabet International DMCC, Swissol Trade DMCC, Alam Althrwa General Trading LLC, and Alwaneo LLC Co.
Treasury Secretary Steven Mnuchin accused Tehran of using oil and petrochemical sales revenues for funding terrorist proxies.
“The Trump Administration will continue to target and isolate