In its latest round of sanctions against Iran, the U.S. Treasury Department targeted two firms based in Shanghai, China and Kuala Lumpur, Malaysia.
Both firms are accused of trading in export-sensitive goods and concealing that the buyers were Iranian firms barred under previous sanctions. And both firms risk having their any U.S.-based assets frozen and losing business ties with banks and companies under U.S. jurisdiction.
Middle Men
One of the firms is a large manufacturing and global trader with a business office in Shanghai, China.
Bochuang Ceramic, Inc., makes and sells a specialized chemical that can be used in military weapons, such as torpedoes, mines, aircraft and surveillance. According to Treasury, Bochuang Ceramic sold hundreds of thousands of dollars worth of sensitive...