US Sanctions Nine Entities of ‘Critical Role’ in Iranian Petrochemicals, Petroleum Trade

A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, on January 20, 2023. REUTERS/Kevin Lamarque/File Photo/File Photo
A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, on January 20, 2023. REUTERS/Kevin Lamarque/File Photo/File Photo
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US Sanctions Nine Entities of ‘Critical Role’ in Iranian Petrochemicals, Petroleum Trade

A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, on January 20, 2023. REUTERS/Kevin Lamarque/File Photo/File Photo
A bronze seal for the Department of the Treasury is shown at the US Treasury building in Washington, US, on January 20, 2023. REUTERS/Kevin Lamarque/File Photo/File Photo

The United States on Thursday imposed sanctions on nine Iranian entities it accused of playing a critical role in the production of petrochemicals and petroleum.

Secretary of State Antony Blinken said in a statement that the latest sanctions were part of “continued efforts to enforce US sanctions on Iran’s petroleum and petrochemical trade and disrupt Iran’s efforts to circumvent sanctions.”

The Department of the Treasury said in a statement that it is designating six Iran-based companies involved in the sale and distribution of petrochemicals.

Among the Iranian companies targeted were petrochemical producer Amir Kabir Petrochemical Co. (AKPC), its subsidiary Simorgh Petrochemical Co. and four subsidiaries of previously sanctioned Marun Petrochemical Co.

Among the companies sanctioned are Laleh Petrochemical Company, Marun Tadbir Tina Company, Marun Sepehr Ofogh Company, and Marun Supplemental Industries Company, owned by Marun Petrochemical Company, which was previously designated for providing material support to Triliance Petrochemical Co. Ltd.

The Treasury Department is also designating two Singapore-based entities, Asia Fuel PTE. Ltd. and Unicious Energy PTE. Ltd., which have facilitated Triliance’s sale of petroleum products to customers in East Asia.

The Treasury Department is designating Malaysia-based Sense Shipping and Trading SDN. BHD., a front company that has facilitated the shipment of tens of thousands of metric tons of petrochemicals for Triliance.

“Today’s action demonstrates our continued efforts to enforce US sanctions on Iran’s petroleum and petrochemical trade and disrupt Iran’s efforts to circumvent sanctions," the statement stressed.

"The United States remains focused on targeting Tehran’s sources of illicit revenue, and will continue to enforce its sanctions against those who wittingly facilitate this trade," Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson said in the statement.



Taiwan Carries Out First Torpedo Test Fire for Domestically Made Submarine

FILE PHOTO: Members of the navy pose for pictures next to Narwhal, Taiwan's first domestically built submarine, after its launching ceremony in Kaohsiung, Taiwan September 28, 2023. REUTERS/Carlos Garcia Rawlins/File Photo
FILE PHOTO: Members of the navy pose for pictures next to Narwhal, Taiwan's first domestically built submarine, after its launching ceremony in Kaohsiung, Taiwan September 28, 2023. REUTERS/Carlos Garcia Rawlins/File Photo
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Taiwan Carries Out First Torpedo Test Fire for Domestically Made Submarine

FILE PHOTO: Members of the navy pose for pictures next to Narwhal, Taiwan's first domestically built submarine, after its launching ceremony in Kaohsiung, Taiwan September 28, 2023. REUTERS/Carlos Garcia Rawlins/File Photo
FILE PHOTO: Members of the navy pose for pictures next to Narwhal, Taiwan's first domestically built submarine, after its launching ceremony in Kaohsiung, Taiwan September 28, 2023. REUTERS/Carlos Garcia Rawlins/File Photo

Taiwan has carried out the maiden torpedo test firing for its first domestically developed submarine, a major milestone in a project aimed at strengthening deterrence against the Chinese navy and protecting vital sea lanes in the event of war.

Taiwan, which China claims as its own territory, has made the indigenous submarine program a key part of an ambitious project to modernize its armed forces as Beijing stages almost daily military exercises to assert its sovereignty claims.

The submarine program has drawn on expertise and technology from ⁠several countries, including ⁠the United States and Britain, a breakthrough for diplomatically isolated Taiwan, whose government rejects Beijing's territorial claims.

Taiwan's CSBC Corp, which is leading construction of what is eventually planned to be eight submarines, said in a statement on Thursday that the first ship, named the ⁠Narwhal, had carried out its first torpedo test the day before.

The test verified the combat system's operational capabilities in terms of detection and tracking, fire control, launch, and torpedo guidance, Reuters quoted it as saying.

In January, the submarine carried out its first underwater sea trial.

Taiwan has said it hopes to deploy at least two such domestically developed submarines by 2027, and possibly equip later models with missiles.

The first submarine, with a price tag of T$49.36 billion ($1.57 ⁠billion), ⁠will use a combat system by Lockheed Martin Corp and carry US-made Mark 48 heavyweight torpedoes.

The CSBC statement did not say what kind of torpedoes were test-fired.

The Narwhal had been due to be delivered to the navy in 2024, joining two existing submarines purchased from the Netherlands in the 1980s, but the program has been hit with delays.

Taiwan's armed forces are dwarfed by those of China, which has three operational aircraft carriers and several nuclear-powered ballistic missile submarines and is developing stealth fighter jets.


Iran Denies Involvement in Damage to Korean Vessel in Strait of Hormuz

Representation photo: In this picture obtained from Iran's ISNA news agency on May 2, 2026, the Iran-flagged container vessel Hamouna is pictured while anchored as a small motorboat passes by, in the Strait of Hormuz off Bandar Abbas in southern Iran. (Photo by Amirhossein KHORGOOEI / ISNA / AFP) /
Representation photo: In this picture obtained from Iran's ISNA news agency on May 2, 2026, the Iran-flagged container vessel Hamouna is pictured while anchored as a small motorboat passes by, in the Strait of Hormuz off Bandar Abbas in southern Iran. (Photo by Amirhossein KHORGOOEI / ISNA / AFP) /
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Iran Denies Involvement in Damage to Korean Vessel in Strait of Hormuz

Representation photo: In this picture obtained from Iran's ISNA news agency on May 2, 2026, the Iran-flagged container vessel Hamouna is pictured while anchored as a small motorboat passes by, in the Strait of Hormuz off Bandar Abbas in southern Iran. (Photo by Amirhossein KHORGOOEI / ISNA / AFP) /
Representation photo: In this picture obtained from Iran's ISNA news agency on May 2, 2026, the Iran-flagged container vessel Hamouna is pictured while anchored as a small motorboat passes by, in the Strait of Hormuz off Bandar Abbas in southern Iran. (Photo by Amirhossein KHORGOOEI / ISNA / AFP) /

Iran denied any involvement by its armed forces in damage to a South Korean vessel in the Strait of Hormuz, its ‌embassy in Seoul ‌said on ‌Thursday ⁠in a statement, adding ⁠that safe passage through the waterway requires strict adherence to Iranian regulations.

On ⁠Monday, a Panama-flagged ‌ship ‌operated by South ‌Korea's HMM suffered an ‌explosion and caught fire, with US President Donald Trump blaming ‌the incident on an Iranian attack, ⁠while South ⁠Korea's Foreign Ministry said the cause of the fire would only be confirmed after the vessel was towed back to port and inspected, Reuters said.


Trump to Host Lula in Test of Fitful Relationship

Lula and Trump, who command the largest economies in the Americas, have had a turbulent relationship, though Trump has hailed their 'excellent chemistry'. Evaristo Sa, Ludovic MARIN / AFP/File
Lula and Trump, who command the largest economies in the Americas, have had a turbulent relationship, though Trump has hailed their 'excellent chemistry'. Evaristo Sa, Ludovic MARIN / AFP/File
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Trump to Host Lula in Test of Fitful Relationship

Lula and Trump, who command the largest economies in the Americas, have had a turbulent relationship, though Trump has hailed their 'excellent chemistry'. Evaristo Sa, Ludovic MARIN / AFP/File
Lula and Trump, who command the largest economies in the Americas, have had a turbulent relationship, though Trump has hailed their 'excellent chemistry'. Evaristo Sa, Ludovic MARIN / AFP/File

US President Donald Trump will host his Brazilian counterpart Luiz Inacio Lula da Silva at the White House on Thursday -- the latest test of the ideological opposites' tenuous relationship, with security and investment topping the agenda.

At the helm of the Americas' two largest economies, the leaders have clashed over the years but worked to bury the hatchet in recent months.

Lula, as the Brazilian is widely known, is looking to boost his image domestically ahead of October elections that are expected to be close, said AFP.

Trump is expected to seek greater investment access to Brazil's strategically important minerals supply as well as cooperation on security matters.

Trump hit Brazil with steep tariffs on all its products in July as punishment for what he called a "witch hunt" against his far-right ally, former president Jair Bolsonaro, who is serving a 27-year prison sentence for an attempted coup.

Lula, who once said that Trump wants to be "emperor of the World," took a strong, public stand against the economic measures. He has also slammed the United States' removal of Nicolas Maduro and the war it launched alongside Israel against Iran.

But relations appeared to warm after a series of meetings and calls between the two leaders, with Trump at one point hailing the "excellent chemistry" between the two men. The US tariffs have since been partially reduced.

Lula heads to the meeting politically weakened after a series of defeats in Congress. He is tied with Bolsonaro's eldest son, Senator Flavio Bolsonaro, in opinion polls ahead of the election.

The veteran leftist is seeking a fourth non-consecutive term in office.

Oliver Stuenkel, an international relations professor at the Getulio Vargas Foundation in Sao Paulo, told AFP that Lula will want to "strengthen the personal rapport with Trump" to reduce the risk of US interference in the elections, such as overt displays of support for Flavio.

- Fight against gangs -

Security is the main concern of Brazilian voters ahead of the vote, and combating organized crime is high on the agenda of the meeting.

Finance Minister Dario Durigan, who is part of the delegation, said Wednesday that Brazil wanted to expand cooperation in fighting cartels.

The US and Brazil in April signed a deal to share information to combat arms and drug trafficking, such as X-ray data on containers traveling from the US to Brazil.

Trump has made the fight against so-called "narcoterrorism" a priority of his second term, designating major cartels as foreign terrorist organizations and using it to justify the ouster of Maduro.

Stuenkel said Brazil was keen to show it was doing its part and hopes to "reduce the risk" of Washington designating Brazil's powerful gangs, Comando Vermelho (Red Command) and Primeiro Comando da Capital (PCC), as terrorist groups.

"The US increasingly sees these groups as sophisticated transnational criminal organizations with regional reach," said Rebecca Bill Chavez, president of the Washington-based Inter-American Dialogue.

"But in Brazil, there is real concern about the legal, political, and sovereignty implications of applying a terrorism framework to criminal groups."

- Scramble for rare earths -

Also up for discussion are Brazil's vast reserves of rare earth minerals -- crucial for the production of high-tech goods -- which Washington is scrambling to invest in.

The country holds the second-largest reserves of the critical elements in the world after China.

"Of course, foreign investment in Brazil is welcome, but we want to...drive industrialization within Brazil, generating high-quality jobs in partnership with our universities," said Durigan.

Late on Wednesday, Brazilian lawmakers advanced a bill that would incentivize mineral exploitation. It will next be debated in the senate.

Washington is also investigating Brazil for unfair trade practices, such as whether the country's free PIX electronic payment system is undermining the competitiveness of US companies.

Launched in 2020, PIX has revolutionized payments in Brazil and surpassed the use of credit and debit cards, with seven billion transactions in January alone, according to the central bank.