02.05.2025 10:50
Turkey's giant company Kimpaş Kimya has been added to the U.S. sanctions list on the grounds of conducting a $15 million oil trade with Iran. U.S. President Donald Trump had imposed sanctions on many companies due to allegations of smuggling related to Iran.
While the trade wars initiated by U.S. President Donald Trump continue to dominate the global agenda, an interesting sanction decision has been made from Washington. Under Biden's administration, the sanctions imposed on Russia have been replaced by Trump's sanctions on Iran. The Trump administration has decided to impose sanctions on many companies under allegations of smuggling related to Iran.
THE DECISION WAS ANNOUNCED BY RUBIO
The decision was announced by U.S. Secretary of State Marco Rubio, and details were also obtained from the official website of the ministry. According to the official site of the U.S. Department of State, the Trump administration announced comprehensive sanctions against a large-scale Iranian oil smuggling network that "provides hundreds of millions of dollars in illegal funding for Iran's destabilizing activities."
In the statement, it was noted that the companies "facilitated the hardline regime's ability to advance its nuclear program and support its terrorist partners and proxies, including Hamas, Hezbollah, and the Houthi rebels in Yemen, by smuggling approximately $500 million worth of petrochemical and petroleum products on behalf of Iran."
THE 3RD COMPANY ON THE LIST IS KİMPAŞ CHEMICALS
According to a report by Kerim Ülker from Dünya, in the U.S. sanctions against Iran, the UAE-based Solvent Organics FZE exported over $300 million worth of "Iranian-origin petrochemical products" to countries worldwide. The second company, Alseerah Trading LLC, similarly transported over $150 million worth of sanctioned goods to international markets.
The most notable third company is the Turkish company Kimpaş, which is well-known to the public. It was stated that Kimpaş Chemical Materials Marketing Trade and Industry imported $15 million worth of goods produced by the sanctioned Iranian petrochemical companies.