The U.S. Treasury Department announced new sanctions in relation to Iran, this time targeting several Chinese individuals and companies, including subsidiaries of China COSCO SHIPPING Corp. Ltd.
The targeted individuals and entities met the criteria for the imposition of penalties under an executive order signed by President Donald Trump in August 2018, the Treasury Department said on its website Sept. 25.
The executive order restored sanctions on Iran following the Trump administration's decision to abandon an international deal intended to curb Tehran's nuclear program.
Companies targeted by the latest sanctions include COSCO SHIPPING Tanker(Dalian)Co.Ltd., Cosco Shipping Tanker (Dalian) Seaman And Ship Management Co. Ltd., China Concord Petroleum Co. Ltd., Kunlun Holding Co. Ltd., Kunlun Shipping Co. Ltd. and Pegasus 88 Ltd.
Individuals who were also added to the Treasury Department's specially designated nationals list were Yi Li, Yu Hua Mao, Luqian Shen, Bin Xu and Yazhou Xu.
Trump on Sept. 24 lambasted China at the United Nations General Assembly as he defended tariffs he had imposed on more than $500 billion worth of Chinese goods.
