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US unveils new sanctions on Iran's petroleum industry

The sanctions targeted nine entities the Treasury Department said were involved in producing, shipping and selling Iranian petrochemicals and petroleum.

WASHINGTON — The US Treasury Department on Thursday announced new sanctions targeting Iran’s oil and petrochemical industry as the administration shifts its focus away from reviving the landmark nuclear deal. 

The Treasury’s Office of Foreign Assets Control designated nine entities it said were involved in producing, shipping and selling Iranian petrochemical and petroleum, including six Iran-based manufacturers or their subsidiaries. Also targeted with sanctions were firms in Malaysia and Singapore that Treasury said were involved in facilitating sales and shipments on behalf of the previously sanctioned Hong Kong-based broker Triliance Petrochemical Co. Ltd. 

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