The United States imposed sanctions on five United Arab Emirates-based companies on Thursday, citing purchase of Iranian oil and petrochemicals for non-compliance with Trump’s impetuous unilateral policies.
The blacklisted companies include Swissol Trade DMCC, Alwaneo LLC Co, Alphabet International DMCC, Petro Grand FZE, and Alam Althrwa General Trading LLC, who allegedly facilitated petroleum products from the National Iranian Oil Company (NIOC) in 2019 for United Arab Emirates.
The US Treasury Department reported it in a statement that the money from the petrochemical purchases has been used to support terrorist arms like the IRGC-QF, and other clandestine activities in the Middle East. As tension escalates between Iran and the US, the sanctions will freeze US assets of the blacklisted firms and avoid any future transactions with them.
Now, this might come off as a dual shock for Islamic Republic’s economy as it battles with the deadly coronavirus pandemic. This is latest from the Trump administration in an attempt to obturate Tehran’s nuclear program, and its ability to export oil.
Beginning in 2018, The US “maximum pressure” campaign aims to curb the influence of Iran on the Middle East. The administration is now calling for more sanctions and pressure with the latest being imposed on Thursday.