As the United States has renewed its toughest economic sanctions against Iran, Chinese foreign trade companies exporting to Iran must take note. the United States has again announced sanctions against 6 Chinese companies and two individuals.
The US Treasury Department said in a statement on September 3 that it had added companies from Iran, the United Arab Emirates and China to its list of sanctioned entities.
The reason is that the companies provide transport and distribution channels for Iranian Petrochemical products and support Triliance Co. Ltd., which is based in Hong Kong and has previously been sanctioned. There are 6 Chinese companies (5 registered in Hong Kong and 1 in the mainland) and 2 Chinese individuals.The list includes 5 companies registered in Hong Kong, 1 company based in Shanghai and 2 Chinese individuals, according to the us Treasury Department's list of sanctioned entities and individuals. The list includes the following information:
6 Chinese companies:
NEW FAR INTERNATIONAL LOGISTICS LIMITED (a.k.a. NEW FAR INTERNATIONAL LOGISTICS LTD; a.k.a. "NEW FAR INTERNATIONAL"), Wan Chai, Hong Kong;
SINO ENERGY SHIPPING HONGKONG LIMITED (a.k.a. SINO ENERGY SHIPPING (HONG KONG) LTD;
ZHIHANG SHIP MANAGEMENT SHANGHAI CO LTD (a.k.a. SHANGHAI ZHIHANG SHIP MANAGEMENT CO., LTD.; a.k.a. ZHIHANG SHIP MANAGEMENT), Pudong Nanlu, Pudong Xinqu, Shanghai 200120, China;DINRIN LIMITED, Hong Kong; Business Registration Number 2849056 (Hong Kong) [IRAN-EO13846] (Linked To: ZAGROS PETROCHEMICAL).
DYNAPEX ENERGY LIMITED (f.k.a. SINGH DAILY CULTURE PRESS LIMITED; f.k.a. SINGH SCIENCE AND TECHNOLOGY DEVELOPMENT CO., LIMITED), Flat/Rm 1105 11/F, Hua Qin International Building, 340 Queen's Road Central, Hong Kong; Business Registration Number 2066820 (Hong Kong) [IRAN-EO13846] (Linked To: TRILIANCE PETROCHEMICAL CO. LTD.).
JINGHO TECHNOLOGY CO. LIMITED, Hong Kong; Business Registration Number 2088397 (Hong Kong) [IRAN-EO13846] (Linked To: TRILIANCE PETROCHEMICAL CO. LTD.).
2 Chinese ndividuals
LIN, Zuoyou (Chinese Simplified: 林作友), Jinxing Village, Shitang Town, Wenling City, Zhejiang, China; SHI, Min (Chinese Simplified: 石敏), Longhua Town, Xuhui District, Shanghai City, China;
The U.S. government will freeze all U.S. assets of entities and individuals on the sanctions blacklist and prohibit Americans from doing business with them, according to a Treasury Department statement. In addition, foreign financial institutions that transact with the subject of the sanctions, as well as persons who provide material or some other support to the subject of the sanctions, will also face the risk of sanctions by the United States.
The Iranian government has added more than 800 items to its list of banned imports, totaling 2,400 items.
As a result of US sanctions, the Iranian government banned imports of up to 1,600 items on its list last year to encourage domestic production.
These banned imports are classified as "category 4", are "non-essential" and can be "self-produced". Hamid Zadeum, head of Iran's Trade promotion organization, said Iran has added 800 items to its banned import list since March 2019, bringing the total number of banned items to 2,400, the Financial Tribune reported.
