.jpg)
5 hours ago
1
Article content
(Bloomberg) — The US’s campaign to impose “maximum pressure” on Iran’s economy now includes the Islamic Republic’s liquefied petroleum gas exports, as Washington broadens its focus beyond crude oil.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Article content
The Treasury Department on Tuesday sanctioned Iranian national Seyed Asadoollah Emamjomeh, who’s known to ship liquefied petroleum gas and crude oil from the country to foreign markets, some of his trading companies, an LPG tanker, and his son, Meisam Emamjomeh. It marks a step-up in Washington’s actions against individuals or entities involved in the trade of Iran’s non-crude energy exports.
Article content
Article content
LPG is a major source of revenue for Tehran, which uses the proceeds to fund its nuclear ambitions and support regional groups including Hezbollah, the Houthis and Hamas, the Treasury said in a statement. Tehran and Washington have restarted talks over Iran’s nuclear program, with Iranian officials asking for guarantees that US sanctions will be lifted in order to address US concerns.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
China is a big buyer of Iranian LPG. The Islamic Republic was the No. 2 source for China’s imports of propane, a type of LPG, last year, according to the Energy Information Administration. The US was China’s biggest propane supplier, though that relationship is now threatened by the trade war between the two countries that’s already disrupted flows.
Article content
Washington has long targeted Iran’s crude exports. Several rounds of sanctions have impacted how the country’s oil was delivered to buyers in China, though flows appear to have recovered. China’s purchases of Iranian oil are often labeled as coming from Malaysia, with the barrels transferred between ships in the waters off the Southeast Asian nation in order to mask their origins.
Article content
Advertisement 1
English (US)