Biden admin, citing Trump-era order, takes action against companies supporting Iranian petrochemical firm

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The State and Treasury Departments announced Monday that they are taking actions against companies they say have helped an Iranian petrochemical firm sell their products, providing significant revenue to Tehran.

A statement from Secretary of State Antony Blinken announced that the State Department was designating Pioneer Ship management PTE LTD for managing a vessel that was used to transport Iranian petroleum products, as well as Golden Warrior Shipping Co. Ltd., for transactions including giving “logistical support” to Iran’s petroleum trade.

“The United States is designating six entities easy illicit transactions related to Iranian petroleum as well as petroleum and petrochemical products, key sources of revenue for the Iranian government,” Blinken’s statement said.

Blinken added that regarding Golden Warrior Shipping, the State Department identified its vessel “Glory Harvest” as “blocked property.”

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Blinken referred to six entities facing action from the Biden administration. In addition to the two mentioned above, the Treasury Department announced action against four other entities that Iran’s Persian Gulf Petrochemical Industry Commercial Co. has used to sell tens of millions of dollars of petrochemical goods to East Asian countries.

The actions are being taken pursuant to Executive Order 13846, a 2018 order from then-President Donald Trump that reimposed sanctions against Iran after the US pulled out of the Iran nuclear deal. The Biden administration is currently looking to revive that deal in some capacity.

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“The United States continues to pursue the path of diplomacy to achieve a mutual return to full implementation of the Joint Comprehensive Plan of Action,” Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson said in a statement. “Until such time as Iran is ready to return to full implementation of its commitments, we will continue to enforce sanctions on the illicit sale of Iranian petroleum and petrochemicals.”

Monday’s announcement follows previous actions in June and July against companies aiding Iranian petrochemical sales.

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The move comes weeks after Iran announced it was imposing sanctions on 61 Americans, including former Secretary of State Mike Pompeo, former National Security Adviser John Bolton, and Rudy Giuliani. Iran had previously imposed sanctions on 51 other Americans in January of this year, and 24 in April.

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