DJ U.S. Sanctions Chinese Firms for Allegedly Shipping Iranian Oil
By Ian Talley in Washington and Courtney McBride in New York
The Trump administration blacklisted several Chinese firms and their top officials for allegedly shipping Iranian oil in violation of U.S. sanctions, in an attempt to cut off the last vestiges of Iran's crude exports.
The action represents a response by Washington to suggestions that the U.S. ease its sanctions regime amid rising tensions.
"Know that we will sanction every violation of sanctionable activity," Secretary of State Mike Pompeo said in announcing the measures on Wednesday on the sidelines of a United Nations summit in New York.
The Department of Treasury blacklisted the China Concord Petroleum Co. Ltd., and two units of a major Chinese shipping company, Cosco Shipping Tanker (Dalian) Co. Ltd. and Cosco Shipping Tanker (Dalian) Seaman and Ship Management Co. Ltd.
Three other Chinese companies were sanctioned along with top officers at the firms.
Cosco criticized the measures. "Sanctioning one of the world's premier energy-shipping companies that abides with all international trade norms is a wrong move. Cosco will carry on with its global tanker operations. The U.S. should stop policing and punishing legitimate maritime operators," a senior Cosco executive said.
The other companies affected by the U.S. action didn't immediately respond to requests for comment.
The Chinese Embassy in Washington and the Iranian Mission to the U.N. didn't immediately respond to requests for comment. Beijing has criticized U.S. sanctions as extraterritorial and Tehran has vowed to fight them.
--Costas Paris in New York contributed to this article.
(END) Dow Jones Newswires
September 25, 2019 11:16 ET (15:16 GMT)
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