Fresh Iran sanctions linked to tanker dispute off Croatia
Youchem General Trading FZE linked to Arc 1, at anchor for nearly four weeks with cargo of suspected Iranian crude stuck at a Croatian port
Office of Foreign Asset and Control blacklists Hong Kong and UAE-based companies that it said are supporting Iranian petrochemical shipments
THE US Treasury Department has sanctioned nine companies connected with shipping Iranian petrochemicals.
“This network helps effectuate international transactions and evade sanctions, supporting the sale of Iranian petrochemical products to customers in the People’s Republic of China and the rest of East Asia,” the Office of Foreign Assets Control said in a statement.
As well as sanctioning Iranian petrochemical producers, “international front companies and shipping companies” in the Hong Kong, the UAE were designated, according to Ofac.
The Leonid’s technical and ISM manager remains another UAE-based company Vroom Marine Ventures FZE, which has provided these services since June 2020.
Vroom Marine Ventures was also the technical and ISM manager for Panama-flagged Arc 1 (IMO: 9268112) from March 2022 until June 13.
Arc 1 has been stuck in the Adriatic Sea for weeks with a cargo suspected to be Iranian crude.
The tanker had loaded via a ship-to-ship transfer off Malaysia, an area where cargoes of Iranian oil are frequently reshipped and labelled as “Malaysian blend” to evade US sanctions.
The 2003-built aframax has been anchored at Rijeka as government authorities try and determine the oil’s provenance.
Ofac has also deleted two Vietnamese companies from its Specially Designated Person’s list, Vietnam Gas and Chemicals Transportation, and Cuu Long Petro Gas Transportation JSC also known as Vietnam Gas and Chemicals Transportation Corporation.