U.S. sanctions UAE-based companies, China for allegedly shipping Iranian oil

Aug. 1 (UPI) -- President Joe Biden's administration on Monday issued sanctions targeting companies based in the United Arab Emirates, China and Singapore for helping ship Iranian oil to east Asia.

U.S. Secretary of State Antony Blinken said in a statement that a total of six companies have been slapped with sanctions, four by the Treasury Department and two by the State Department.

The Treasury Department said the companies helped Iran's Persian Gulf Petrochemical Industry Commercial Co., which was sanctioned in 2019 under the administration of former President Donald Trump, sell "tens of millions of dollars' worth of Iranian petroleum and petrochemical products."

"The United States has been sincere in pursuing a path of meaningful diplomacy to achieve a mutual return to full implementation of the Joint Comprehensive Plan of Action," Blinken said.

"Until Iran is ready to return to full implementation of the JCPOA, we will continue to use our sanctions authorities to target exports of petroleum, petroleum products and petrochemical products from Iran.

"Singapore's Pioneer Shipmanagement, one of the two companies sanctioned by the State Department, managed one liquified petroleum gas tanker that transported Iranian petroleum products," Blinken said.

Golden Warrior Shipping, based in China, was also sanctioned by the State Department for allegedly engaging in transactions related to Iranian petroleum and petroleum products, providing logistical support to the Iranian petroleum trade.

Emirati company Blue Cactus Heavy Equipment and Machinery Spare Parts Trading was sanctioned by the Treasury Department along with China's Farwell Canyon, Shekufei International Trading Co. and PZNFR Trading Limited.

"The United States continues to pursue the path of diplomacy to achieve a mutual return to full implementation of the Joint Comprehensive Plan of Action," said Brian E. Nelson, undersecretary for terrorism and financial intelligence, in a statement.

"Until such time as Iran is ready to return to full implementation of its commitments, we will continue to enforce sanctions on the illicit sale of Iranian petroleum and petrochemicals."

The news came as Blinken on Monday said Russia has engaged in "saber-rattling" over Ukraine during a speech at the United Nations' month long nuclear treaty conference.

Blinken traveled to the United Nations on Monday for a conference to review progress on the implementation of the 1970 Non-Proliferation Treaty.

He added that Iran, since March, has been "unwilling or unable" to reach a deal on the JCPOA to ensure the country does not acquire nuclear weapons.

President Joe Biden on Monday released a statement ahead of the beginning of the conference in which he noted that the United States developed a proposal "to secure a mutual return to full implementation" of the Iran nuclear deal.

Biden also said that China "also has a responsibility" as a nuclear weapons state which has signed the treaty "to engage in talks that will reduce the risk of miscalculation and address destabilizing military dynamics."