U.S. imposes sanctions on Asian companies shipping Iranian oil to China

Treasury targets Hong Kong oil broker and vessel managers in India and China

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The Trump administration sees money from oil sales as enabling Iran to finance militant groups operating in the Middle East, including Hamas in Gaza. © Reuters

KEN MORIYASU

WASHINGTON -- The U.S. has announced sanctions on more than 30 individuals and vessels allegedly linked to the sale and transportation of Iranian petroleum products to buyers in Asia, primarily China.

The entities targeted by the Treasury Department on Monday include Hong Kong-based oil broker Petronix Energy Trading, China-based tanker operator Nycity Shipmanagement and India-based tanker technical manager Flux Maritime.

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