Six entities that have supported Iran's petrochemical and petroleum industry have been sanctioned for their actions by the U.S. Department of State (DOS), the agency announced March 2.
“Today we designated six entities and identified 20 vessels as blocked property," Sec. of State Antony Blinken stated in a tweet posted the same day. "This is the latest of numerous actions taken by the United States against sanctions evaders around the world. We will continue to enforce our sanctions against Iran."
Vietnam-based Golden Lotus Oil Gas and Real Estate Joint Stock Company has been sanctioned "for knowingly engaging in a significant transaction for the transport of petroleum products from Iran;" Global Marine Ship Mgmt. Co. Ltd. and Shanghai Xuanrun Shipping Co. Ltd., both based in the People's Republic of China, and United Arab Emirates-based Swedish Management Co. SA were sanctioned "for knowingly engaging in a significant transaction for the transport of petrochemical products from Iran," the DOS announcement reports.
Shiraz Petrochemical Company and Bushehr Petrochemical Co. in Iran were sanctioned for knowingly engaging in a significant transaction for the sale of petrochemical products from Iran;" and designated 20 vessels as blocked property of the designated entities.
In concurrence with the DOS's designation, the Treasury Department's Office of Foreign Assets Control (OFAC) has issued Iran General License O, the DOS reports. The action authorizes the "wind down and limited safety and environmental transactions involving certain vessels" connected to any of the blocked entities through 12:01 a.m. EST June 30, per OFAC's Iran GL O, the DOS reports.
“These designations underscore our continued efforts to enforce our sanctions against Iran," the DOS states in the announcement. "We will not hesitate to take action against those who try to circumvent our sanctions.”