US sanctions China firms for dealings with Iran

The United States on Tuesday targeted companies from China and Dubai for allegedly helping Iran evade weapons and oil sanctions.

In a signal Washington will keep pressure on Iran over its nuclear program, the U.S. Treasury Department said it was sanctioning eight Chinese companies for procuring missile parts for Iran.

The U.S. State Department said it was offering a reward of up to $5 million for information leading to the arrest and/or conviction of Li Fangwei, who has been the target of U.S. sanctions in the past for his alleged role as a principle supplier to Iran's ballistic missile program.

Treasury also said it was targeting a firm based in Dubai and several associated individuals for helping Iran evade U.S. sanctions against its oil industry.