Latest news with #NationalSecurityPresidentialMemorandum2
Yahoo
13-05-2025
- Business
- Yahoo
Treasury Department sanctions more than 20 companies it says gave Iranian oil to China
The Treasury Department announced on Tuesday that it has sanctioned a network of more than 20 companies it says have supplied Iranian oil to China. The department's Office of Foreign Assets Control (OFAC) sanctioned nearly two dozen firms on Tuesday that it says have assisted in dispatching billions of dollars' worth of oil to Beijing for Iran's armed forces general staff and Sepehr Energy, its primary commercial affiliate. 'Today's action underscores our continued focus on intensifying pressure on every aspect of Iran's oil trade, which the regime uses to fund its dangerous and destabilizing activities,' Treasury Department Secretary Scott Bessent said in a statement. 'The United States will continue targeting this primary source of revenue, so long as the regime continues its support for terrorism and proliferation of deadly weapons,' Bessent added. The department imposed sanctions on Huangdao Inspection and Certification Co., stating they have been providing oil cargo inspection services to ships already sanctioned for carrying Iranian oil. CCIC Singapore PTE, an export company, was also on the list. The OFAC said CCIC Singapore PTE has assisted Sepehr in delivering inspections needed before the oil is transferred to China and in helping it hide where the oil originated. Qingdao Linkrich was also slapped with sanctions, with OFAC stating that it helped Sepehr Energy-chartered vessels with discharge and arrival at Qingdao Port in China. State Department spokesperson Tammy Bruce said the revenue from the sale of the oil funds helped in the development of 'ballistic missiles and unmanned aerial vehicles (UAVs), nuclear proliferation, and Iran's terrorist proxies, including the Houthis' attacks on Red Sea Shipping, the U.S. Navy, and Israel.' 'The United States will continue to take action in support of National Security Presidential Memorandum 2, which imposes maximum pressure on the Iranian regime to deny it access to resources that sustain its destabilizing activities,' Bruce added. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
13-05-2025
- Business
- The Hill
Treasury Department sanctions over 20 companies it says gave Iranian oil to China
The Treasury Department announced on Tuesday that it has sanctioned a network of over 20 companies it says have supplied Iranian oil to China. The department's Office of Foreign Assets Control (OFAC) sanctioned nearly two dozen firms on Tuesday that, it says, have assisted in dispatching billions of dollars' worth of oil to Beijing for Iran's armed forces general staff and Sepehr Energy, its primary commercial affiliate. 'Today's action underscores our continued focus on intensifying pressure on every aspect of Iran's oil trade, which the regime uses to fund its dangerous and destabilizing activities,' Treasury Secretary Scott Bessent said in a statement. 'The United States will continue targeting this primary source of revenue, so long as the regime continues its support for terrorism and proliferation of deadly weapons,' Bessent added. The department imposed sanctions on Huangdao Inspection and Certification Co., stating they have been providing oil cargo inspection services to ships already sanctioned for carrying Iranian oil. CCIC Singapore PTE, an export company, was also on the list. The OFAC said CCIC Singapore PTE has assisted Sepehr in delivering inspections needed before the oil is transferred to China and in helping it hide where the oil originated. Qingdao Linkrich was also slapped with sanctions, with OFAC stating that it helped Sepehr Energy-chartered vessels with discharge and arrival at Qingdao Port in China. State Department spokesperson Tammy Bruce said the revenue from the sale of the of the oil funds helped in development of 'ballistic missiles and unmanned aerial vehicles (UAVs), nuclear proliferation, and Iran's terrorist proxies, including the Houthis' attacks on Red Sea Shipping, the U.S. Navy, and Israel.' 'The United States will continue to take action in support of National Security Presidential Memorandum 2, which imposes maximum pressure on the Iranian regime to deny it access to resources that sustain its destabilizing activities,' Bruce added.
Scoop
10-05-2025
- Business
- Scoop
Third China-Based 'Teapot' Refinery Designated For Violating Iran Sanctions
The United States is sanctioning China-based independent 'teapot' refinery Hebei Xinhai Chemical Group Co., Ltd. and three oil terminal operators for their role in purchasing or facilitating the delivery of hundreds of millions of dollars' worth of Iranian oil. Additionally, the United States is designating numerous firms, vessels, and vessel captains involved in facilitating the transportation of Iranian oil to China as part of Iran's 'shadow fleet,' which funds Iran's destabilizing behavior and support to terrorist proxies. This is the United States' third action against a China-based independent teapot refinery since President Trump issued National Security Presidential Memorandum 2 on February 4, 2025. So long as Iran attempts to generate oil revenues to fund its destabilizing activities, the United States will hold both Iran and all its partners in sanctions evasion accountable. Today's action is being taken pursuant to Executive Order (E.O.) 13902, which targets Iran's petroleum and petrochemical sectors, and E.O. 13846, which targets Iranian petroleum exports. This action also marks the latest round of sanctions targeting Iranian oil sales since the President issued National Security Presidential Memorandum 2 (NSPM-2), instituting a campaign of maximum pressure on Iran.
Times of Oman
02-05-2025
- Business
- Times of Oman
Trump threatens sanctions on countries purchasing Iranian oil, petrochemicals
Washington, DC: US President Donald Trump has threatened to impose sanctions on the 'countries or individual' found buying Iranian oil and petrochemical products. Trump said such countries will face secondary sanctions, and these nations won't be allowed to do business with the United States going forward. In a post on his social media account Truth Social, "ALERT: All purchases of Iranian Oil, or Petrochemical products, must stop, NOW! Any Country or person who buys ANY AMOUNT of OIL or PETROCHEMICALS from Iran will be subject to, immediately, Secondary Sanctions." "They will not be allowed to do business with the United States of America in any way, shape, or form. Thank you for your attention to this matter," it added. Two weeks earlier, the US imposed sanctions on Shandong Shengxing Chemical Limited, a Chinese refinery, for buying over USD 1 billion worth of Iranian crude oil. The sanctions also targeted companies and vessels involved in shipping Iranian oil to China. According to the US State Department, "United States is today sanctioning Shandong Shengxing Chemical Co, Ltd, a China-based independent 'teapot' refinery, for purchasing more than a billion dollars' worth of Iranian crude oil." "The President is committed to driving Iran's illicit oil exports, including to China, to zero. The United States is also imposing sanctions on several companies and vessels involved in facilitating Iranian oil shipments to China as part of Iran's 'shadow' fleet," it added. This is the United States' second action against an independent China-based teapot refinery since President Donald Trump issued National Security Presidential Memorandum 2 on February 4. Further, the statement noted that all sanctions will be fully enforced under the Trump Administration's maximum-pressure campaign on Iran.
Scoop
30-04-2025
- Politics
- Scoop
New Sanctions Targeting Iran's Ballistic Missile Program
TAMMY BRUCE, DEPARTMENT SPOKESPERSON APRIL 29, 2025 The United States is sanctioning six entities and six individuals based in Iran and China for their role in a network procuring ballistic missile propellant ingredients on behalf of Iran's Islamic Revolutionary Guard Corps (IRGC). Today's action, which targets this network that has facilitated the procurement of sodium perchlorate and dioctyl sebacate from China to Iran, is taken in support of the United States' maximum pressure campaign to curtail Iran's ballistic missile program and disrupt the activities of the IRGC, as outlined in the President's National Security Presidential Memorandum 2 of February 4, 2025. The United States will continue to hold accountable those who seek to advance Iran's ballistic missile program, to include its procurement of propellant ingredients used for ballistic missiles. The Department of the Treasury's action was taken pursuant to Executive Order (E.O.) 13382, which targets proliferators of weapons of mass destruction (WMD) and their supporters. For more information, please refer to Treasury's Press Release.
