OFAC Sanctions Iranian Petroleum and Petrochemical Trade Network

OFAC sanctioned two individuals, 13 entities and two vessels for facilitating the sale and transport of Iranian petroleum and petrochemical products. OFAC had targeted an international network of individuals and entities that used front companies to evade sanctions on Iran and its petroleum and petrochemical sectors.

OFAC sanctioned:

• Jam Petrochemical Company, pursuant to EO 13599 ("Blocking Property of the Government of Iran and Iranian Financial Institutions"), for exporting hundreds of thousands of metric tons of petrochemical products throughout East Asia;
• Edgar Commercial Solutions FZE, pursuant to EO 13846 ("Reimposing Certain Sanctions With Respect to Iran"), for purchasing and exporting large quantities of petrochemical products from sanctioned Iranian companies using a front company to disguise its bulk purchases;
• Ali Almutawa Petroleum and Petrochemical Trading L.L.C, and its customer Petrokick LLC, pursuant to EO 13846, for sending and receiving large quantities of Iranian petroleum products;
• Mahdieh Sanchuli and Morteza Rajabieslami, pursuant to E.O 13846, for representing Petrogat FZE and Emerald Global FZE, which purchased sanctioned Iranian crude oil; and
• East Ocean Rashin Shipping Co., Everwin Shipmanagement Pte. Ltd., Persian Gulf Star Oil Company, Truong Phat Loc Shipping Trading Joint Stock Company, Zagros Tarabaran- E Arya, BS Bravo and Summer5, pursuant to EO 13846, for conducting transactions relating to the sale and transport of petroleum products from Iran.