US Sanctions Companies, Vessel for Helping Trade Iranian Petroleum
The Office of Foreign Assets Control on Aug. 1 added six companies and one vessel to its Specially Designated Nationals List for their involvement in the sale of Iranian petroleum and petrochemical products to East Asia.
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OFAC said Iran's Iran’s Persian Gulf Petrochemical Industry Commercial Co., one of the nation’s largest petrochemical brokers, uses four of the companies to facilitate the sale of "tens of millions of dollars’ worth" of Iranian petroleum from Iran to East Asia: Blue Cactus Heavy Equipment and Machinery Spare Parts Trading, Farwell Canyon HK Limited, Shekufei International Trading Co. and PZNFR Trading Limited.
The other two companies -- Pioneer Ship Management PTE LTD and Golden Warrior Shipping, Co. Ltd. -- have also "engaged in transactions" related to Iranian petroleum, the State Department said. The State Department also identified the vessel Glory Harvest as blocked property of Golden Warrior Shipping.