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:
BSM MARINE LIMITED LIABILITY PARTNERSHIP (BSM MARINE LLP) is an India-based company that serves as the commercial manager of the YATEEKA.
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:
KANGAN PETRO REFINERY COMPANY is an Iran-based company involved in the sale of Iranian petroleum.
COSMOS LINES INC is an India-based company involved in the transport of Iranian petroleum.
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:
ALKONOST MARITIME DMCC (ALKONOST) is a United Arab Emirates-based company serving as the commercial and ISM manager of the vessel MENG XIN. ALKONOST is also commercial and ISM manager of the vessel PHOENIX I.
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:
AUSTINSHIP MANAGEMENT PRIVATE LIMITED is an Indian-based company serving as the commercial and ISM manager of the vessel AMAK.
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:
OCEANEND SHIPPING LTD is a Seychelles-based company serving as the registered owner and commercial manager of the vessel ASTERIX.
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:
OCTANE ENERGY GROUP FZCO is a United Arab Emirates-based company engaged in the wholesale distribution of petroleum and petroleum products.
SANCTIONS IMPLICATIONS
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.