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U.S. Moves to Tighten Iran Sanctions Enforcement

(Wall Street Journal) Laurence Norman - The Biden administration is moving to tighten enforcement of sanctions against Iran, according to senior U.S. officials. The U.S. is sending a top-level delegation to the UAE, a top U.S. ally but also Iran's second-largest trade partner and a conduit for Iran's trade and financial transactions with other countries. The U.S. officials will warn petrochemical companies and banks in the UAE that the U.S. has "visibility on transactions that are not compliant with sanctions" and "those banks and firms face extreme risk if this continues." U.S. officials say if there is no progress in the nuclear talks, there could be additional efforts to tighten sanctions compliance by firms in Malaysia, Turkey and China. The U.S. is also working closely with financial firms in Japan and South Korea to track illicit Iranian trade, the officials said.
2021-12-13 00:00:00
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