The United States Department of State has announced new measures targeting entities involved in the sale and transport of Iranian petroleum, petroleum products, and petrochemical products. This initiative is part of a broader strategy to exert economic pressure on Iran, aiming to curtail revenue streams that support destabilizing activities in the Middle East.
Several companies have been designated under section 3(a)(iii) of Executive Order 13846 for engaging in significant transactions involving Iranian petrochemical products since November 5, 2018. Among them are Kaveh Methanol Company, which operates a methanol refinery in Iran; Aria Sina Control International Technical Inspection Co., known as ASCO International, which acts as a cargo surveyor across Iran's ports; and Asian Sea Angel Shipping Co., which facilitates the loading of Iranian petrochemical products.
Additionally, the Department has targeted vessel management companies associated with what it describes as Iran’s "shadow fleet." These firms have allegedly transported millions of barrels of Iranian crude oil while engaging in practices such as turning off their automatic identification systems to obscure cargo origins. SAI Saburi Consulting Services from India manages two LPG tankers implicated in transporting Iranian petroleum products. Breeze Marine Asset Management and Isle Innovation Inc are also named for their roles with tankers transporting Iranian crude oil.
In accordance with E.O. 13846, all U.S.-controlled properties or interests belonging to these designated entities are blocked. Transactions involving these properties by U.S. persons or within U.S. jurisdiction are prohibited unless specifically authorized by the Office of Foreign Assets Control (OFAC).
The U.S. government emphasizes that its sanctions aim not at punishment but at encouraging positive behavioral changes from those affected. The possibility remains for individuals or entities to petition for removal from the Specially Designated Nationals and Blocked Persons List.
