U.S. Puts Clamps on Iranian Shipping Companies, Ships

(MarineLink)
Friday, July 13, 2012

The U.S. Treasury Department yesterday said the United States is imposing additional sanctions on Iran’s nuclear and ballistic missile proliferation networks, and is also taking additional steps to prevent the evasion of sanctions by publicly identifying a group of Iranian front companies and banks.
“Iran today is under intense, multilateral sanctions pressure, and we will continue to ratchet up the pressure so long as Iran refuses to address the international community’s well-founded concerns about its nuclear program,” said Treasury Under Secretary for Terrorism and Financial Intelligence David S. Cohen.  “Today’s actions are our next step on that path, taking direct aim at disrupting Iran’s nuclear and ballistic missile programs as well as its deceptive efforts to use front companies to sell and move its oil.”
Continuing the effort to target Iran’s nuclear and missile proliferation activities, the U.S. Departments of the Treasury and State are today designating 11 entities and four individuals under E.O. 13382.  As described in more detail in the accompanying Fact Sheet, many of the individuals and entities designated are part of a network of proliferators headed by Iran’s Ministry of Defense for Armed Forces Logistics (MODAFL) and its subsidiary, Aerospace Industries Organization (AIO).  A number of additional designations are related to Iran’s national maritime carrier, Islamic Republic of Iran Shipping Lines (IRISL), and Iran’s Islamic Revolutionary Guard Corps (IRGC), both of which have been the target of a numerous sanctions actions by the United States and our partners around the world. 
The Treasury Department said it was active to prevent the circumvention of international sanctions on Iran – including sanctions on oil trade with Iran – by publicly exposing numerous Iranian front companies, ships and banks that are part of the Government of Iran.  The specific entities identified in today’s action are described in the accompanying Fact Sheet.
Treasury is identifying these Government of Iran entities pursuant to E.O. 13599, which blocks all property and interests in property within U.S. jurisdiction of the Government of Iran and of all Iranian financial institutions, and prohibits U.S. persons or those within U.S. jurisdiction from having dealings with them.  To assist U.S. persons in complying with their obligation to freeze the assets of, and not to deal with, any such entities, the Treasury Department from time to time identifies entities that are owned or controlled by, or acting for or on behalf of, the Government of Iran.
Today’s identifications include four front companies for the Naftiran Intertrade Company (NICO) or the National Iranian Oil Company (NIOC) -- Petro Suisse Intertrade Company SA; Hong Kong Intertrade Company; Noor Energy (Malaysia) Ltd.; and Petro Energy Intertrade Company.  NICO intended to use Petro Energy Intertrade to evade western sanctions. The Treasury Department identified NICO and NIOC, both of which are centrally involved in the sale of Iranian oil, in 2008 as entities that are owned or controlled by the Government of Iran.
The Treasury Department is also identifying today the National Iranian Tanker Company (NITC) as a Government of Iran entity and, for the first time, the NITC fleet and various front companies belonging to NITC.  In addition, the Treasury Department is also identifying 20 Iranian financial institutions for inclusion on its List of Specially Designated Nationals and Blocked Persons.
For full details on the companies and entities targeted, visit:
http://www.treasury.gov/press-center/press-releases/Documents/Fact%20Sheet%20-%20Increasing%20Sanctions%20Against%20Iran.pdf

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Navios Charters Out Newbuild MR2 Product Tanker

Navios Maritime Acquisition Corporation (Navios Acquisition), an owner and operator of tanker vessels, announced that the Nave Luminosity, a newbuilding MR2 product tanker of 49,

Ingram Barge Order 20 Tank Barges for 2015

Ingram Barge Company say they will be building 20 tank barges in 2015 to meet growing demand for chemical shipments. While most of the company’s recent tank barges have come through acquisitions,

Finland Grants Support to Three Small LNG Terminals

The Finnish government granted 65.2 million euros (84.22 million US dollar) in subsidies to build three small liquefied natural gas (LNG) terminals to cut on use

Finance

Statoil: New Compressor Means Heightened Production

The new compressor in operation on the Kvitebjørn field in the North Sea from 17 September will increase production there by 220 million barrels of oil equivalent

India's Coal Imports Causing Port Congestion

Congestion at Paradip expected to ease in a week if rains stop; higher-than-usual congestion at some other ports too. Indian power and steel companies are importing

Short-Term Perils of Lower Oil Prices: DW Monday

At present we are seeing lower oil prices as a function of softer demand growth in both Europe and China combined with recent output increases from OPEC, particularly Libya,

News

REL to Supply Deep Ocean Mooring Winch System to NOC

Romica Engineering Ltd (REL) have signed a contract with the U.K.’s National Oceanography Center (NOC) to provide a containerized deep ocean mooring winch system.

McAllister Towing Celebrates 150 in Style

McAllister Towing hosted a dual celebration in New York City on Friday, September 19, a gala in honor of the company’s 150th anniversary and a traditional christening of the Buckley McAllister,

Lilaas Engages Imtra for North American Distribution

Prospects in the North American marine equipment market have triggered a new and distribution agreement between control specialist Lilaas AS and marine and offshore

Government Update

China's Navy Enters Strait of Hormuz

Bandar Abbas, home of Iran's navy and the main port in the strategically important Strait of Hormuz, is currently hosting two Chinese naval vessels on a five-day goodwill visit,

Ban Welcomes Leonardo DiCaprio as UN Messenger of Peace

As the eyes of the world turn to New York City, where thousands of people are expected to gather today for a massive march in advance of a United Nations climate summit,

Tropical Storm Polo Threatens Battered Mexican Resort of Los Cabos

Tropical storm Polo barreled nearer on Friday to the Mexican Pacific resort of Los Cabos where thousands of troops were restoring order following widespread

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1746 sec (6 req/sec)