OFAC Sanctions Iranian Shadow Fleet Ships, Companies
The Office of Foreign Assets Control this week sanctioned 29 ships and their management companies, which it said are operating as part of Iran's shadow fleet and helping the country transport petroleum and petroleum products through "deceptive shipping practices." They have helped Iran move hundreds of millions of dollars worth of Iranian petroleum, OFAC said.
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Among those sanctioned was Hatem Elsaid Farid Ibrahim Sakr, an Egyptian businessman whose companies are associated with seven of the newly designated shadow fleet vessels and multiple shipping companies, OFAC said. Those include companies in the United Arab Emirates and vessels flying the flags of Palau.
OFAC also sanctioned a range of other vessels that it said are owned by companies "largely established for the sole purpose of owning and managing their respective vessels." They include ships flying the flags of Panama, Palau, the Cook Islands, Barbados, Jamaica, the Marshall Islands and Liberia and companies based in the UAE, Liberia, India, Panama and elsewhere.
In addition, the agency issued new General License S, which authorizes certain safety- and environmental-related transactions with the newly sanctioned vessels and ship management companies. Those transactions are authorized through 12:01 a.m. ET on Jan. 18.