IRAN SANCTIONS: OFAC TARGETS SANCTIONS EVASION NETWORK GENERATING HUNDREDS OF MILLIONS OF DOLLARS FOR QODS FORCE OIL SALES

On 8 December, OFAC advised that it was designating a sanctions evasion network led by businessman Sitki Ayan that has facilitated the sale of hundreds of millions of dollars’ worth of oil for Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF).  The network involves the Gibraltar-based ASB Group of Companies Limited.  5 individuals and a large number of entities are designated, as well as the QUEEN LUCA, a Panama-flagged LPG tanker.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20221208

https://home.treasury.gov/news/press-releases/jy1151

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 View all posts by raytodd2017