Saudi Press

Saudi Arabia and the world
Tuesday, Mar 24, 2026

US targets Chinese, UAE companies in new Iran sanctions

US targets Chinese, UAE companies in new Iran sanctions

US official says absent return to nuclear deal, Washington will use sanctions to limit Iranian petrochemical exports.

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.

In a statement on Thursday, the US Department of the Treasury said it had imposed penalties on two companies based in Hong Kong, three in Iran, and four in the United Arab Emirates.

Sanctions also were imposed on Chinese citizen Jinfeng Gao and Indian national Mohammed Shaheed Ruknooddin Bhore.

“The United States is pursuing the path of meaningful diplomacy to achieve a mutual return to compliance with the Joint Comprehensive Plan of Action,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E Nelson, referring to the Iran nuclear deal.

“Absent a deal, we will continue to use our sanctions authorities to limit exports of petroleum, petroleum products, and petrochemical products from Iran.”




Former US President Donald Trump unilaterally withdrew from the JCPOA in 2018 and started a “maximum pressure” campaign of sanctions against the Iranian economy that his successor Joe Biden has continued to enforce.

Tehran has been escalating its programme in response to Washington’s withdrawal from the pact.

Iranian officials say they want all US sanctions lifted immediately, while the Biden administration is calling for a mutual return to compliance that would see an end to nuclear-related sanctions and a scaling back of Iran’s nuclear programme.

But several rounds of negotiations have been unsuccessful in restoring the agreement.

One of the key sticking points appears to be the US designation of Iran’s Islamic Revolutionary Guard Corps (IRGC) as a “foreign terrorist organization”. Tehran wants the designation lifted, but Washington so far has been reluctant to do it.

Iran’s deputy foreign minister for economic diplomacy dismissed the new US sanctions on Thursday as ineffective.

“Our petrochemical industry and its products have long been under sanctions, but our sales have continued through various channels and shall continue to do so,” Mehdi Safari told Iranian state television.




Henry Rome, deputy head of research at the Eurasia Group, said the sanctions may aim both to raise pressure on Iran and to blunt US domestic critics who have argued that Biden has failed to rein in Iran’s nuclear programme.

“Washington is likely aiming to raise the costs for Iran of a continued no-deal scenario while also deflecting domestic and foreign criticism that it is allowing its Iran policy to drift,” Rome told the Reuters news agency.

He added that any single sanctions action was unlikely to change thinking in Iran or China absent a broader strategy.

China has remained the top buyer of Iranian oil, while India reluctantly ended imports under US pressure.

“Indeed, Tehran may calculate that given the state of the oil market and global inflationary pressures, a concerted [US] campaign to collapse Iranian energy exports to Trump-era levels is not in the cards in the near term,” Rome said.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Trump to Deliver Keynote Address at Saudi-Backed Investment Summit in Miami Beach
Saudi Arabia and Kuwait Press Ahead With Energy Agreements Despite Regional Conflict
Can Saudi Arabia’s Yanbu Port Replace Hormuz? Capacity Limits Test Critical Oil Lifeline
Saudi Arabia Detects Ballistic Missiles as Regional Tensions Escalate in Gulf
Saudi Aramco Reduces Oil Shipments to Asia for Second Consecutive Month
Saudi Aramco Reduces Oil Shipments to Asia for Second Consecutive Month
Saudi Arabia and UAE Push Ahead With Major Deals Despite Iran-Related Uncertainty
Formula One Cancels Bahrain and Saudi Arabia Grands Prix Amid Escalating Regional Tensions
Pakistan Signals Strategic Realignment Toward Saudi Arabia Amid Regional Tensions
Saudi Arabia Cuts Oil Shipments to Asia as Regional Conflict Disrupts Key Export Routes
Saudi Arabia Moves to Contain Regional Escalation as Houthis Signal Readiness to Join Conflict
Saudi Arabia Signals Independent Nuclear Strategy Unaffected by Iran Tensions
Saudi Arabia Signals Independent Nuclear Strategy Unaffected by Iran Tensions
Egypt Reaffirms Strong Support for Saudi Arabia as Sisi Condemns Iran’s Gulf Attacks
Saudi Stocks Close Higher as Tadawul Index Gains 0.55% on Broad Sector Strength
Iran Fires Ballistic Missiles Toward Riyadh as Gulf Conflict Intensifies
Barcelona Midfielder Marc Casadó Attracts €40 Million Interest from Saudi Clubs
Strait of Hormuz Tensions Rise as Saudi Arabia Opens Key Air Base to US Forces
Saudi Arabia Confronts Strategic Turning Point as Iran Conflict Redefines Regional Alliances
Saudi Arabia Intercepts Missile as Two Others Land in Remote Area Without Casualties
Saudi Expulsion of Iranian Military Attaché Raises Doubts Over Fragile Riyadh–Tehran Rapprochement
Saudi Arabia’s Strategic East–West Pipeline Gains Global Attention as Energy Routes Face Growing Risks
Iran Reportedly Reduces Strikes on Saudi Arabia Amid Concerns Over Strong Retaliation
Saudi Arabia Criticises Israeli Strikes in Southern Syria Amid Rising Regional Tensions
Egypt and Saudi Arabia Warn Iran’s Actions Threaten Stability Across the Gulf
Egypt and Saudi Arabia Warn Iran’s Actions Threaten Stability Across the Gulf
Saudi Arabia Unveils Comprehensive 2026 Roadmap to Streamline Company Formation
Saudi-UAE Tensions Reveal Emerging Rivalry at the Heart of Gulf Power Dynamics
Saudi Arabia Launches Gulf Maritime Support Initiative to Safeguard Shipping
Saudi Arabia Expands US Military Access as UAE Braces for Prolonged Iran Conflict
Saudi Arabia Expels Iranian Diplomats Amid Escalating Regional Tensions
Saudi Arabia’s Edarat Wins Major Data Centre Deal with Regional Bank
Iran Intensifies Gulf Offensive as Saudi Arabia Intercepts Dozens of Drones
Regional Powers Hold Security Talks as Turkey Seeks New Strategic Pact
Asian Refiners Urge Saudi Arabia to Revise Oil Pricing Mechanism Amid War-Driven Volatility
Gulf States Weigh US Base Access and Military Alignment as Iran War Intensifies
IRGC Claims Strikes on Israel, Kuwait and Saudi Arabia as Conflict Widens
Remains of Fallen Soldier Repatriated Following Death in Saudi Arabia
Saudi Arabia Intercepts Multiple Drones Amid Continued Iranian-Linked Attacks
Iran Tensions Challenge Saudi Arabia’s Strategic Shift to Red Sea Oil Exports
Saudi Arabia Turns to Alternative Export Routes as Hormuz Disruption Strains Oil Flows
Saudi Arabia and UAE Move Closer to Backing US-Israeli Campaign Against Iran
Saudi Arabia Signals Readiness for Military Response as Iran Tensions Escalate
Saudi Arabia Warns Oil Could Surge Beyond $180 as Iran Conflict Disrupts Global Supply
Saudi Arabia Reports Drone Strike on Key Red Sea Refinery in Yanbu
United States Urges Citizens to Leave Saudi Arabia Amid Escalating Regional Conflict
Former Media Executive Chronicles Rise of Saudi Crown Prince in New Book
Saudi Aramco–Exxon Refinery in Yanbu Targeted in Latest Wave of Iranian Attacks
Greek-Operated Patriot System Intercepts Iranian Missiles Over Saudi Arabia
Asian Refiners Urge Saudi Arabia to Revise Oil Pricing as War Upends Markets
×