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US imposes sanctions on Iranian petrochemical network

Secretary of State Antony Blinken said the Biden administration “will continue to use our sanctions authorities” if there's no nuclear deal with Iran.
AFP via Getty Images

If Iran and world powers fail to salvage the landmark nuclear agreement, the Biden administration warned Thursday that it will continue to use its sanctions authorities to crack down on Iran’s petroleum exports. 

The Treasury Department’s Office of Foreign Assets Control unveiled sanctions on a network of Iranian petrochemical producers as well as front companies in China and the United Arab Emirates that support a pair of previously blacklisted companies described as “instrumental in brokering the sale of Iranian petrochemicals abroad."

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