OFAC TARGETS FINANCIAL AND SHIPPING FACILITATORS OF IRANIAN PETROCHEMICALS AND PETROLEUM SALES

On 29 September, OFAC announced that it has sanctioned an international network of companies involved in the sale of hundreds of millions of dollars’ worth of Iranian petrochemicals and petroleum products to end-users in South and East Asia.  This action targets Iranian brokers and several front companies in the UAE, Hong Kong, and India that have facilitated financial transfers and shipping of Iranian petroleum and petrochemical products.  The listing includes one vessel, the Gas Allure.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20220929

https://home.treasury.gov/news/press-releases/jy0980

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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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