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US Targets Chinese, UAE Firms in New Iran Oil Sanctions

US sanctions UAE, Hong Kong firms that ship Iranian oil

US Treasury sanctions companies involved with Iran Petrochemical

U S Sanctions Firms Helping Iran Smuggle Oil

On August 1, the United States sanctioned six companies for helping to sell millions of dollars’ worth of Iranian oil and petrochemical products to East Asian buyers. Petrochemicals, derived from oil and natural gas, are essential to manufacturing paints, plastics, solar panels, medicine, and mobile phones that facilitate modern life.

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