US Targets Iran's Oil Network: Vessel Managers, Petrochemical Traders and Military Front Companies Sanctioned
The United States has imposed sanctions on an extensive network of companies, vessels, and one individual connected to the trade and transport of Iranian oil and petrochemical products, with designations issued jointly by the State Department and OFAC.
State Department — vessel managers and traders (EO 13846)
The State Department designated 8 vessel management companies, including:
Ever Shining Limited (Hong Kong)
Seafoam Marine Ltd (UAE)
Symphony Shipping and Maritime Management Inc (UAE)
Vanguard Marine Ventures Inc (UAE)
Eight vessels associated with these companies were identified as blocked property.
Three petrochemical trading companies were also designated:
Classy Pansy Trading and Contracting WLL (Qatar)
Alt Capital Pte. Ltd (Singapore)
Rishabh Triexim LLP (India), along with its principal executive officer Swaroop Jayantilal Bagrecha
OFAC — military front companies (EO 13224)
OFAC designated 5 Hong Kong-based front companies linked to Sepehr Energy Jahan Nama Pars Company — the oil sales arm of Iran's Armed Forces General Staff: