Dubai Frozen Yoghurt Firm Feels Iran Sanction Chill - Middle East Real Time - WSJ

Dubai Frozen Yoghurt Firm Feels Iran Sanction Chill - Middle East Real Time - WSJ:

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A Canadian frozen yogurt franchise might seem like an entirely unusual conduit for Iran to evade hardening U.S. government sanctions. But among several companies the U.S. sanctioned in May for illicit dealings with Iran was a cold outlier: Niksima Food and Beverages, a firm based in Dubai that runs local outlets of Yogen Fruz, the Canadian frozen yogurt purveyor.

While the ties between Iran’s energy industry and frozen yogurt may appear tenuous at first glance, Niksima, the U.S. state department said, had accepted payments on behalf of Jam Petrochemicals Complex, a major petrochemical facility on Iran’s southern coast that it is targeting as part of a new strategy aimed at curbing Iran’s income from things like plastics and lubricants."

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