IRAN SANCTIONS: AUSTRALIAN COMPANY OFFLOADS $15 MILLION CARGO IT SAYS IT WAS DUPED INTO CARRYING

On 23rd August, the Guardian carried an article saying that an Australian multinational (Quantum Fertiliser being a subsidiary of ASX-listed company Incitec Pivot) at the centre of an Iran sanctions scandal has offloaded a $15 million shipment of Iranian fertiliser it says it was duped into taking, and is reviewing its operations to avoid a repeat.  Quantum Fertiliser said it was deceived by its supplier about the origin of the product, and quickly moved to offload it, saying that its supplier had offloaded the cargo at a port in Yantai, in China’s Shandong province.  The Guardian reported that internal documents suggest the company knew that the cargo being loaded on to its ship had just been offloaded from another ship, the CS Future, and separate records obtained by the Guardian show that ship had sailed from Iran’s Bandar Abbas port on 1st July.

https://www.theguardian.com/australia-news/2019/aug/24/iran-sanctions-scandal-australian-company-offloads-15m-cargo-it-says-it-was-duped-into-carrying

This blog is primarily for my own use, to keep informed and up to date. However, if you would like to say thank you (and perhaps help me get a new, better laptop when I am away…) you can “buy me a coffee” at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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