(STL.News) Petroleum and petrochemicals are major sources of revenue for the Iranian regime, revenue it employs to oppress the Iranian people and to advance its malign foreign agenda.
The Department of State is imposing sanctions on Vietnam Gas and Chemicals Transportation Corporation, a vessel manager, pursuant to Executive Order (E.O.) 13846, for knowingly engaging, on or after November 5, 2018, in a significant transaction for the transport of petroleum products from Iran. The Department of State is also imposing sanctions pursuant to E.O. 13846 on the company’s Managing Director, Vo Ngoc Phung, for serving as a principal executive officer of the company.
Concurrently, the Department of the Treasury is imposing sanctions on four entities pursuant to E.O 13846, for providing material assistance or support to Triliance Petrochemical Co. Ltd., a U.S. designated entity. They are China-based Donghai International Ship Management Limited and Petrochem South East Limited, as well as UAE-based Alpha Tech Trading FZE and Petroliance Trading FZE.
As a direct result of the U.S. maximum pressure campaign, Iran’s military and “security” budget proposal for next year has decreased by a massive 24 percent. These latest sanctions degrade the regime’s ability to inflict human rights abuses on the Iranian people. We reiterate that only a fundamental change in the Iranian regime’s behavior can provide a path towards sanctions relief.