US slaps sanctions on Iranian petrochemical companies

Tightening its noose around Iran, the United States today imposed sanctions on several companies related to Iran's petrochemical industry.
"These actions underscore US resolve to cut off funds from the Iranian petrochemical sector as the second largest revenue source for Iran's illicit nuclear programme," State Department spokesperson Jen Psaki said.
Sanctions have been imposed against Jam Petrochemical Company and Niksima Food and Beverage JLT for knowingly engaging in a significant transaction for the purchase or acquisition of petrochemical products from Iran, she said.
Jam Petrochemical Company is an Iranian manufacturer and seller of petrochemicals.
Niksima Food and Beverage JLT received payments on behalf of Jam Petrochemical Company.

The sanctions selected for both companies prohibit: financial transactions subject to US jurisdiction, transactions with respect to property and interests in property under US jurisdiction, and foreign exchange transactions subject to US jurisdiction.
In addition to these companies, the Department of the Treasury also identified eight Iranian petrochemical companies.