OFAC Targets Iranian Petroleum Sales Facilitators
The Office of Foreign Assets Control sanctioned 13 companies for facilitating the sale of Iranian petrochemicals and petroleum products. The companies facilitated sales to East Asian buyers on behalf of Persian Gulf Petrochemical Industry Commercial, Triliance Petrochemical, and the National Iranian Oil Co., which are all previously sanctioned entities, OFAC said in a Nov. 17 news release. The action is the fifth round of designations targeting Iran’s petroleum and petrochemical trade since June, OFAC said.
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“Today’s action further demonstrates the complex sanctions evasion methods Iran employs to illicitly sell petroleum and petrochemical products,” Brian Nelson, treasury undersecretary for terrorism and financial intelligence, said. “The United States will continue to implement sanctions against those actors facilitating these sales.”