US unveils new sanctions on Iranian petrochemical network and front companies
CNN
The United States on Thursday sanctioned a network of Iranian petrochemical producers and front companies in China and the United Arab Emirates.
The move comes as the Iran nuclear deal -- formally known as the Joint Comprehensive Plan of Action (JCPOA) -- is on the verge of collapse.
"The United States is pursuing the path of meaningful diplomacy to achieve a mutual return to compliance with the Joint Comprehensive Plan of Action. Absent a deal, we will continue to use our sanctions authorities to limit exports of petroleum, petroleum products, and petrochemical products from Iran," Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson said in a press release.
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