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US increases sanctions on Iran’s petrochemical sector

More parties linked to broker Triliance Petrochemical have been designated in the latest round of sanctions. These include entities based in Iran, China, and Singapore that had either engaged in transactions facilitated by Triliance or otherwise assisted its efforts to process and move funds generated by the sale of those petrochemical products

Ofac noted that Iranian petrochemical sales remain a key revenue source for the regime, which benefits from a global network of entities facilitating the Iranian petrochemical sector. Parties involved in the sales as well as the brokers and myriad financial intermediaries were all slapped with sanctions

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