OFAC Sanctions More Companies, Ship Owners, Vessels Supporting Iranian Oil Trade
The Office of Foreign Assets Control this week sanctioned about two dozen entities and vessels with ties to Iran's oil trade, including front companies that it said are hiding the origin of Iranian oil, China-based buyers, and ships moving Iranian oil. The designations target companies and ships in Hong Kong, Singapore and Iran, and vessels carrying the flags of Cameroon and Panama and their owners based in Hong Kong and the Seychelles.
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OFAC said the Iranian government continues to establish and work with front companies to "enable their sanctioned oil trade." The agency said it has designated more than 250 people, entities and vessels with ties to Iran since the start of the Trump administration.