WASHINGTON -- The US imposed sanctions on Iran's petrochemical industry, vowing to
target more of the Islamic regime's sources of revenue after
curbing its vital oil exports.
"As Iran's oil revenues continue to fall due to
international sanctions, the Iranian government has
increasingly turned to other industries to make up for lost
profits," the Treasury Department said in a statement.
The petrochemical industry "is now the
second largest source of revenue for the Iranian Government,"
the statement said.
Meanwhile, the State Department announced sanctions on
Dubai-based Niksima Food & Beverage Co., a Dubai-based
frozen yogurt and dessert company, saying the company received
payments on behalf of Iran's Jam Petrochemical Company, which
was put under the same sanctions.
The Treasury Department also identified eight Iranian petrochemical companies as being
under the control of the Tehran government, which subjects them
to US sanctions.
Since last year, the US has brandished sanctions against
anyone who buys Iran's oil. In its latest move, it punished
Ferland Co., which is based in Cyprus and Ukraine, for
allegedly assisting the Iranian National Tanker Company.
US authorities also took action against several individuals
and airlines for alleged cooperation with Iran, including
Kyrgyzstan-based Kyrgyz Trans Avia and Ukraine-based
Ukrainian-Mediterranean Airlines, also known as Um Air.
AFP via Dow Jones