OFAC Describes its CISADA Iran Sanctions Against 7 Firms
The Office of Foreign Assets Control has issued a notice detailing the May and August 2011 State Department sanctions against seven firms that OFAC is responsible for implementing. The seven companies were determined to have engaged in sanctionable activities related to Iran’s petroleum sector under Section 5(a) of the Iran Sanctions Act (ISA), as amended by the Comprehensive Iran Sanctions, Accountability, and Divestment Act (CISADA) of 2010.
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The seven firms are: Associated Shipbroking (aka SAM), Petrochemical Commercial Company International (aka PCCI), Royal Oyster Group, Speedy Ship (aka SPD), Tanker Pacific Management (Singapore) Pte. Ltd., Allvale Maritime Inc., and Société Anonyme Monégasque D’Administration Maritime Et Aérienne (aka SAMAMA).
The OFAC notice lists the addresses of each of these seven companies and the specific actions OFAC has taken against them.
(See ITT's Online Archives, 11091418 for summary of State Dept sanctions against these seven, as well as Petroleos de Venezuela S.A., for which the State Dept did not select any of the five sanctions that OFAC is responsible for implementing.)