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US imposes sanctions on Chinese figures and entities linked to Iran

UNITED STATES, WASHINGTON (OBSERVATORY) — The US Treasury Department on Wednesday imposed sanctions on five individuals and six Chinese entities for violating sanctions against Iran.

The sanctions included COSCO shipping companies, an oil tanker of the same name, China Concord Petroleum, Kunlun Shipping, Kunlun Holding and Pegasus 88, the ministry said in a statement on its website.

The channel “free” American (official) quoted US Secretary of State Mike Pompeo, that the five people covered by the sanctions “are the managers of those entities.”

He attributed the sanctions to “the individuals and entities targeted to transfer oil from Iran in violation of the US embargo on this country.”

He added that the imposition of sanctions “is the beginning of the implementation of the threat of US President Donald Trump, who pledged Tuesday to the United Nations General Assembly to tighten sanctions as long as Iran’s threatening behavior continues.”

Pompeo said: “The time has come for Iran to accept negotiations on its nuclear program.”

Last Friday, the US Treasury announced sanctions on the Iranian banking system, the harshest of its kind; claiming to provide financial support and facilitate the transfer of remittances to organizations and entities classified by Washington as “terrorist.”

The new sanctions included the Central Bank of Iran, the National Fund for Development of Iran, and the Iranian company Etemad Trading.

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