10/11/2024 | Press release | Distributed by Public on 10/11/2024 13:17
The Iranian regime continues to fuel conflict in the Middle East, most recently evidenced by its reckless October 1 missile attack on Israel. Today, the United States is taking action to stem the flow of revenue that the regime uses to support terrorism abroad, as well as to oppress its own people. The Department of State is imposing sanctions on six entities engaged in the Iranian petroleum trade and is identifying six vessels as blocked property.
Iran's oil exports are enabled by a network of illicit shipping facilitators in multiple jurisdictions who, through obfuscation and deception, load and transport Iranian oil for sale to buyers in Asia.
All targets are being designated pursuant to Executive Order (E.O.) 13846 which authorizes and reimposes certain sanctions with respect to Iran.
The Department is designating the following 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:
The Secretary of State has selected blocking sanctions under section 5(a)(iv) of E.O. 13846. The following vessels are being identified as blocked property:
SANCTIONS IMPLICATIONS
As a result of today's sanctions-related actions, and in accordance with E.O. 13846, all property and interests in property of the designated persons described above that are in the United States or in possession or control of U.S. persons are blocked and must be reported to the Department of Treasury's Office of Foreign Assets Control (OFAC). Additionally, all entities and individuals that have ownership, either directly or indirectly, 50 percent or more by one or more blocked persons are also blocked.
All transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons are prohibited unless authorized by a general or specific license issued by OFAC or exempt. These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.
The power and integrity of U.S. government sanctions derive not only from the U.S. government's ability to designate and add persons to the Specially Designated Nationals and
Blocked Persons (SDN) List, but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior.
Petitions for removal from the SDN List may be sent to: OFAC. [email protected]. Petitioners may also refer to the Department of State's Delisting Guidance page.