On 8 July Sayari published a report which said that in June OFAC designated a group of individuals and companies due to the group’s role in smuggling petrochemicals for Iran’s Revolutionary Guard Corps – Qods Force (IRGC-QF) and using the proceeds to finance Houthi rebels in Yemen.  Using public records, Sayari said that it has found multiple active companies linked to this network in the Middle East, Europe, and Latin America.  These general trading and shipping companies, which remain unsanctioned, pose a risk to individuals or companies that might unknowingly do business with them, as they could be potential conduits for terror financing based on their connections to known terror financiers.  It names Turkish and Panamanian companies, and possible connections to Greece.

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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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