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Feb. 25 (UPI) — The Treasury Department’s Office of Foreign Assets Control announced sanctions Wednesday on more than 30 people, entities and vessels that it said are “enabling illicit Iranian petroleum sales and Iran’s ballistic missile and advanced conventional weapons production.”

The sanctions are part of the federal government’s pressure campaign against Iran.

The vessels targeted are part of Iran’s “shadow fleet,” which the department said in a press release “serve as the regime’s primary source of revenue for financing domestic repression, terrorist proxies and weapons programs.”

“Iran exploits financial systems to sell illicit oil, launder the proceeds, procure components for its nuclear and conventional weapons programs and support its terrorist proxies,” said Secretary of Treasury Scott Bessent in a statement. “Treasury will continue to put maximum pressure on Iran to target the regime’s weapons capabilities and support for terrorism, which it has prioritized over the lives of the Iranian people.”

The vessels sanctioned are: Hoot, Ocean Koi, North Star, Felicita, Ateela 1, Ateela 2, Niba, Luma, Remiz, Danuta 1, Alaa and Gas Fate.

The organizations sanctioned are: Poros Maritime Ventures S.A., Ocean Kudos Shipping Co Ltd., Mistral Fleet Co Ltd., Vast Marine Inc., Behengam Tadbir Qeshm Shipping and Maritime Services Company, Paros Maritime S.A., Wansa Gas Shipping Co., Goldwave Maritime Services Inc. and Ithaki Maritime and Trading S.A.

OFAC also targeted the following entities based in Iran, Turkey and the United Arab Emirates that have aided in the purchase of precursor chemicals and sensitive machinery for Iran. They are Iran-based Oje Parvaz Mado Nafar Company; Turkey-based Utus Gumrukleme Gida Tekstil Ithalat Ihracat Dis Ticaret ve Sanayi Limited Sirketi, Turkey-based Arya Global Gida Sanayi ve Ticaret Limited Sirketi, Turkey-based Altis Tekstil Makina Ticaret Limited Sirketi (Altis), Iran-based Adak Pargas Pars Trading Company and UAE-based Mostafa Roknifard Prime Choice General Trading LLC.

Four people being sanctioned are Iran-based Mohammad Abedini, Mehdi Zand, Mehrdad Jafari and Ebrahim Shariatzadeh. They are allegedly employees of Iran’s Qods Aviation Industries, which was sanctioned in 2013.

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China’s Commerce Ministry says the move against Japanese firms will prevent the remilitarisation of Japan.

Japan has strongly protested China’s move to restrict the export of “dual-use” items to 20 Japanese business entities that Beijing says could be used for military purposes, in the latest twist in a months-long diplomatic row between the two countries.

Japanese Deputy Chief Cabinet Secretary Sato Kei said at a news conference that the move by China’s Ministry of Commerce on Tuesday was “deplorable” and would “not be tolerated” by Tokyo.

Companies affected by China’s export ban on dual-use items, or items that can be used for civilian or military purposes, include Mitsubishi Heavy Industries’ shipbuilding group, aerospace and marine machinery subsidiaries, Kawasaki Heavy Industries, Japan’s National Defense Academy, and the Japan Aerospace Exploration Agency.

Beijing said restricting the export of dual-use items to the Japanese firms was necessary to “safeguard national security and interests and fulfil international obligations such as non-proliferation”, adding that the companies were involved in “enhancing Japan’s military strength”.

China’s Commerce Ministry said on Tuesday that it would also add another 20 entities to its export restrictions watchlist, including Japanese automaker Subaru, petroleum company ENEOS Corporation, and Mitsubishi Materials Corporation.

Chinese exporters must submit a risk assessment report for each company to ensure “dual-use items will not be used for any purpose that would enhance Japan’s military strength”, according to a statement on the Commerce Ministry’s website.

China has imposed similar restrictions on the US and Taiwan as a form of political protest, particularly over Washington’s ongoing unofficial support for the self-governed island. Beijing claims democratic Taiwan as its territory and has not ruled out using force for “reunification”.

Tokyo and Beijing have a historically acrimonious relationship, but diplomatic ties took a turn for the worse in November, when Japanese Prime Minister Sanae Takaichi told legislators that a Chinese attack on Taiwan would constitute a “survival-threatening situation” for Japan, which could necessitate military action.

Japan has had a pacifist constitution which restricts its use of force, but an attack on Taiwan could legally allow Tokyo to activate its army, the Self-Defence Forces, Takaichi said.

Takaichi’s remarks were some of the most explicit regarding whether Japan could become involved in a conflict in the Taiwan Strait, and have been accompanied by a push to expand Japan’s military capability.

Beijing reacted with fury to Takaichi’s remarks, discouraging Chinese citizens from visiting Japan, leading to a major drop in tourism revenue from Chinese visitors.

In January, Beijing also imposed Japanese export restrictions on rare earths like gallium, germanium, graphite and rare earth magnets that could be used for defence purposes, according to the US-based Centre for Strategic and International Studies (CSIS) think tank.

The CSIS said at the time that “these retaliatory measures underscore rising tensions between Beijing and Tokyo and serve as a pointed warning from China to countries that take explicit positions on cross-strait relations”.

Tokyo does not have official diplomatic relations with Taiwan, but several of its outlying islands, including Okinawa, are geographically closer to Taiwan than mainland Japan. Taiwan is also enormously popular with the Japanese public.

BUENOS AIRES, Feb. 20 (UPI) — The announcement of the closure of FATE, the only tire manufacturer entirely owned by the Argentine capital and with more than 80 years of history, became the most visible symbol of the fracture facing industry under the government of Javier Milei.

FATE’s decision, announced on Wednesday, was made due to the company’s inability to compete with a wave of imported tires arriving from Asia at prices far below local costs.

FATE’s case was not isolated. According to the association Industriales Pymes Argentinos, or IPA, more than 22,000 companies have closed and more than 300,000 formal jobs have been lost over the past two years as a result of a trade liberalization policy that reduced tariffs with the promise of lowering consumer prices.

This strategy left local production facing competition that many business owners describe as unequal and difficult to sustain.

Daniel Rosato, the IPA president, told UPI that over the past two years, the country experienced an avalanche of imports, ranging from capital goods to food products.

He said Milei’s government reduced tariffs to boost competitiveness, but the outcome was different.

“Argentina has very high dollar-denominated costs and the domestic industry was unable to compete against cheaper imported products, many of these come from Asia,” Rosato said.

“It is very difficult to compete with China. This led the industry to begin producing less due to a lack of competitiveness. The recession is deepening. Factory closures affect not only small companies, but the entire industrial sector,” he said.

Economist Leonardo Park, a researcher at the think tank Fundar, said the government implemented a sweeping deregulation of foreign trade.

Some of these measures, he said, were necessary, such as eliminating bureaucratic systems that previously delayed or limited product imports and simplifying the permits companies needed to bring goods from abroad.

However, tariffs were also reduced, technical standards relaxed, customs controls loosened and the anti-dumping system was reformed.

“All of these reforms generated strong growth in imports since last year,” he said.

Park warned that a rapid increase in foreign purchases creates a risk for local production, as it competes directly with it.

“A drop in production can translate into a risk for the employment associated with that activity,” he said, adding that FATE’s case illustrates such an impact.

“More imported tires mean less domestic production,” Park said. “When production falls, companies downsize or close. The final effect is layoffs and job losses.”

The economist also pointed to two central concerns: the loss of industrial capabilities the country already developed and employment.

“Displaced workers often face difficulties finding jobs in other sectors, whether due to a lack of dynamism in the labor market, a shortage of new skills or because growing activities are concentrated in other regions,” Park said.

From a legal perspective, labor attorney Walter Mañko, partner at Deloitte Legal Argentina, said the company cited a loss of competitiveness that made the business unviable.

“It is true that tires coming from China have a much lower cost than those manufactured in Argentina and that generates a decline in domestic demand,” he said.

Mañko also underscored the social impact. The 920 jobs lost with FATE’s closure represent families that could be left without income. In economic terms, he added, the country loses its main tire manufacturer, a loss that he said cannot be overlooked.

After the closure announcement, Milei’s government intervened through the Labor Secretariat and ordered mandatory conciliation. It is a legal tool the state can activate without prior request from the company or the union to halt the conflict and restore the situation to the point before the crisis.

For 15 days, with the possibility of extending the period by five more, both sides must sit down to negotiate. The room for agreement is narrow. What happens in those talks will not only define FATE’s future, but also send a signal about Argentina’s industrial direction in this new economic phase.