Sanctioning Entities That Have Traded in Iran’s Petroleum (Fact Sheet)

Date issued: Oct. 11 2024

You've hit a wall. Sign in if you have an account, or learn more about TURBOFAC and subscription options.
TURBOFAC is a module of the compliance platform OverRuled. To learn more about OverRuled, visit www.overruled.com.

TURBOFAC Commentary (341 words)

Notes:

1) On 10-1-24 Iran launched roughly 200 ballistic missiles at Israeli targets, and in response (i) the State Department blocked “six entities pursuant to section 3(a)(ii) of E.O. 13846 for knowingly engaging in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petroleum or petroleum products from Iran” and identified five vessels as blocked property (Sanctioning Entities That Have Traded in Iran’s Petroleum (Fact Sheet)), and (ii) OFAC designated “10 entities in multiple jurisdictions and identifying 17 vessels as blocked property, pursuant to E.O. 13846, for their involvement in shipments of Iranian petroleum and petrochemical products in support of the U.S.-designated National Iranian Oil Company (NIOC) and Triliance Petrochemical Co. Limited (Triliance),” and (iii) the Secretary of Treasury issued Executive Order 13902 - Petroleum and Petrochemical Sectors of the Iranian Economy Determination (Determination).

These...