Among other things, the imposition of these sanctions blocks all property and interests in property of these Chinese entities that are in the United States or within the possession or control of a U.S. person, and provides that such property and interests in property may not be transferred, paid, exported, withdrawn, or otherwise dealt in.
Today, the United States is taking further action as part of our maximum economic pressure campaign against the Iranian regime and those who enable its destabilizing behavior. We are imposing sanctions on certain Chinese firms for knowingly engaging in a significant transaction for the transport of oil from Iran, including knowledge of sanctionable conduct, contrary to U.S. sanctions. This is one of the largest sanctions actions the United States has taken against entities and individuals identified as transporting Iranian oil since our sanctions were re-imposed in November 2018. This action is aimed to deny the Iranian regime critical income to engage in foreign conflicts, advance its ballistic missile development, and fund terror around the world. We are committed to fully administering our sanctions; the Iranian regime must cease these destabilizing activities or face greater economic pressure and diplomatic isolation.
The following Chinese firms are sanctioned under E.O. 13846 for knowingly engaging in a significant transaction for the transport of oil from Iran: China Concord Petroleum Co., Limited, Kunlun Shipping Company Limited, Pegasus 88 Limited, and COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co, Ltd. The United States is imposing additional sanctions on the following two Chinese companies, which own or control one or more of the four companies identified above, and had knowledge of their sanctionable conduct: Kunlun Holding Company Ltd. and COSCO Shipping Tanker (Dalian) Co., Ltd. The United States is also imposing sanctions on the following five individuals, who are executive officers of one or more of the six companies identified above: Bin Xu, Yi Li, Yu Hua Mao, Luqian Shen, and Yazhou Xu. The transaction in question took place after the expiration of China’s Significant Reduction Exception (SRE) on May 2, 2019, and was not covered by that SRE. This action targets the specific entities named today, and does not target their parent companies or any other entities in their corporate groups.
Among other things, the imposition of these sanctions blocks all property and interests in property of these Chinese entities that are in the United States or within the possession or control of a U.S. person, and provides that such property and interests in property may not be transferred, paid, exported, withdrawn, or otherwise dealt in. The United States is also imposing restrictions or bans on visas into the United States on the five individuals identified above. Further, the Department of the Treasury will add these entities and individuals to its List of Specially Designated Nationals and Blocked Persons. Although this transaction involved the export of Iranian crude oil, we are similarly concerned with the export of refined oil products from Iran.
We are committed to holding the Iranian regime accountable, and we will continue to deny funding to this regime that uses its wealth and resources to enrich itself, while depriving the Iranian people of opportunity. All entities must conduct appropriate due diligence to stay clear of sanctioned Iranian entities and sectors. No company or nation should be willing to expose itself to the risk of sanction by possibly supporting Iran’s destabilizing activities around the world.
Post a Comment