Treasury Targets Iranian Liquified Petroleum Gas Magnate (Press Release)

Date issued: Apr. 22 2024

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TURBOFAC Commentary (94 words)

Notes:

1) The activities resulting in the designation were described as “evasion,” and therefore the designations were not pure “secondary sanctions” as described in Introductory Note Common to all Derivative Designation Notices ("De Facto" Secondary Sanctions) Included in the Research System (System Ed. Note), but the designation is the first targeting “liquified petroleum gas” trades for sanctions, here based on the E.O. 13902 “ operating in the petroleum sector of the Iranian economy” designation criterion. OFAC would presumably likewise target above-board (or “non-evasive”) Iranian LPG trading under the EO 13902 “operating in” authority.