Sanctioning Entities That Have Traded in Iran’s Petroleum

The Iranian regime continues to destabilize global security with its nuclear threat, ballistic missile program, and support for terrorist groups.  Iran’s oil exports are enabled by a network of illicit shipping facilitators in multiple jurisdictions who, through obfuscation and deception, load and transport Iranian oil for sale to buyers in Asia.

Today, the United States is taking action under President Trump’s maximum pressure campaign on Iran to stem the flow of revenue the regime uses to fund these destabilizing activities.  The Department of State is imposing sanctions on eight entities engaged in Iranian petroleum and petrochemical trade and is identifying eight vessels as their blocked property.  All of these targets are being designated pursuant to Executive Order (E.O.) 13846, which authorizes and reimposes certain sanctions with respect to Iran.

The Department is designating the following entity pursuant to section 3(a)(ii) of E.O. 13846 for knowingly engaging in a significant transaction for the transport of petroleum from Iran:

YATEEKA (IMO: 9191553) is being identified as property in which BSM MARINE LLP has an interest.

Pursuant to section 3(a)(ii) of E.O. 13846, the following entities are being designated for knowingly engaging in a significant transaction for the sale or transport of petroleum or petroleum products from Iran:

Pursuant to section 3(a)(ii) of E.O. 13846, the following entity is being designated for knowingly engaging in a significant transaction for the transport of petroleum products from Iran:

MENG XIN (IMO: 9271406) and PHOENIX I (IMO: 9236248) are being identified as property in which ALKONOST has an interest.

Pursuant to section 3(a)(ii) of E.O. 13846, the following entity is being designated for knowingly engaging in a significant transaction for the transport of petroleum from Iran:

AMAK (IMO: 9244635) is being identified as property in which AUSTINSHIP MANAGEMENT PRIVATE LIMITED has an interest.

Pursuant to section 3(a)(ii) of E.O. 13846, the following entity is being designated for knowingly engaging in a significant transaction for the transport of petroleum from Iran:

ASTERIX (IMO: 9181194) is being identified as property in which OCEANEND SHIPPING LTD has an interest.

Pursuant to section 3(a)(iii) of E.O. 13846, the following entity is being designated for knowingly engaging in a significant transaction for the transport of petrochemical products from Iran:

IMS LTD is a Malaysia-based company.

CHAMTANG (IMO: 9212400), VIOLET 1 (IMO: 9154000), and PETERPAUL (IMO: 9163269) are being identified as property in which IMS LTD has an interest.

Pursuant to section 3(a)(ii) of E.O. 13846, the following entity is being designated for knowingly engaging in a significant transaction for the purchase of petroleum products from Iran:

As a result of today’s sanctions-related actions, and in accordance with E.O. 13846, all property and interests in property of the designated persons described above that are in the United States or in possession or control of U.S. persons are blocked and must be reported to the Department of Treasury’s Office of Foreign Assets Control (OFAC).  Additionally, all entities and individuals that have ownership, either directly or indirectly, 50 percent or more by one or more blocked persons are also blocked.

All transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons are prohibited unless authorized by a general or specific license issued by OFAC or exempt.  These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.

The power and integrity of U.S. government sanctions derive not only from the U.S. government’s ability to designate and add persons to the Specially Designated Nationals and Blocked Persons (SDN) List, but also from its willingness to remove persons from the SDN List consistent with the law.  The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior.

Petitions for removal from the SDN List may be sent to: OFAC.Reconsideration@treasury.gov.  Petitioners may also refer to the Department of State’s Delisting Guidance page.