US expands Iranian Sanctions and issues shipping advisory
Overview
The United States Office of Foreign Assets Control (OFAC) has expanded sanctions against Iran and issued an advisory to the shipping community.
The Office of Foreign Assets Control has advised that the information be closely watched as they cast a wide net and the consequences for even unintentional violations are immense.
"The US Treasury's action against this sprawling petroleum network makes it explicitly clear that those purchasing Iranian oil are directly supporting Iran's militant and terrorist arm, the IRGC-Qods Force," said Treasury Secretary Steven Mnuchin.
"Our actions over the last two weeks should serve as a strong warning to anyone considering facilitating the Qods Force's oil sales that there will be swift consequences," Mnuchin said.
The information and advisory can be found below:
- OFAC Advisory to the Maritime Petroleum Shipping Community
- Full OFAC Press Release: Treasury Designates Vast Iranian Petroleum Shipping Network That Supports IRGC-QF and Terror Proxies
- Individuals have been added to OFAC's SDN List: Iran-related Designations added to OFAC's SDN List
- OFAC is updating existing FAQ 296 with new FAQs regarding bunkering of non-Iranian and Iranian vessels carrying goods to or from Iran: OFAC New and Amended Iran-related Frequently Asked Questions 9/5/2019
- DOJ Sentences Businessman for Conspiracy to Violate US Sanctions against Iran: DOJ- Turkish Businessman Sentenced to 27 Months Imprisonment
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Posted:
11 October 2019
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