Business Drive

The United States has imposed sanctions on Chinese and Emirati companies, as well as a network of Iranian petrochemical producers, accusing them of helping to evade sanctions by supporting the sale of Iran’s petrochemical products abroad. The US Department of the Treasury says it had imposed penalties on two companies based in Hong Kong, three in Iran, and four in the United Arab Emirates. Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E Nelson says the United States is pursuing the path of meaningful diplomacy to achieve a mutual return to compliance with the Joint Comprehensive Plan of Action.