The United States (US) has imposed sanctions on three firms
in Singapore and Malaysia, accusing them of playing a “critical role” in the
production, sale and shipment of Iranian petrochemicals and petroleum oil to
buyers in Asia.
The US Treasury Department announced in a statement that it
targeted six Iran-based petrochemical manufacturers or their subsidiaries and
three companies in Malaysia and Singapore for shipment of millions of dollars
worth of petroleum and petrochemicals on behalf of Triliance Petrochemical Co.
Ltd.
Brian Nelson, Under Secretary of the Treasury for Terrorism
and Financial Intelligence of the United States, said in a statement that Iran turned to buyers in East Asia to sell its petrochemical and petroleum products
in violation of US sanctions. He further said that the US would continue to
enforce its sanctions against those “who wittingly facilitate this trade.”
Singapore-based Asia Fuel Pte. and Unicious Energy Pte. as
well as Malaysia-based Sense Shipping and Trading Sdn. have been accused of
doing business with Triliance Petrochemical Co. Ltd. for selling Iranian
petroleum products to Asia.
According to the US, Asia Fuel has facilitated the shipment
of Iranian petroleum and oil products to customers in East Asia since late
2021. The firm allegedly also paid storage fees on behalf of Triliance in order
to keep petroleum products in a Malaysia-based floating storage vessel.
According to the US, Sense Shipping is a front company for
Triliance Petrochemical Co. Ltd. The US further accused Unicious Energy of
coordinating millions of dollars in petroleum-related payments on behalf of
Triliance Petrochemical.
Triliance Petrochemical Co. Ltd. was sanctioned in 2020 for
facilitating the sale of Iranian petroleum products from the National Iranian
Oil Company (NIOC), a government-owned national oil and natural gas producer
under the direction of the Ministry of Petroleum of the Islamic Republic of
Iran.