The United States has applied fresh economic sanctions to two Iranian individuals and six companies, including four firms tied to Iran’s national oil company. The move comes following a military standoff between both countries.

The US Department of the Treasury accuses the four international petroleum and petrochemical firms of helping Tehran export “hundreds of millions of dollars” worth of oil, which it says helps the Iranian government fund the Islamic Revolutionary Guard COrps (IRGC) and its “terrorist proxies.”

Among them are an Iranian company, a Dubai-based firm, while others are base in Hong Kong and mainland China.  

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