Tag: Iran

January 13, 2020

In the latest sanctions, the US Treasury targeted Iran’s billion-dollar metal industry and senior regime officials clamping down on the country’s remaining revenue sources. A total of 17 Iranian metals producers and mining companies were listed in the latest group […]

December 12, 2019

Speaking at a press conference yesterday, U.S. Secretary of State Mike Pompeo said that the designated shipping companies include the Islamic Republic of Iran Shipping Lines (IRISL) and its China-based subsidiary, E-Sail Shipping. Pompeo described IRISL as the shipping line […]

October 25, 2019

The waiver, issues on October 24, allows “maintenance or wind down of transactions” and is valid until December 20. This includes offloading non-Iranian crude oil involving COSCO Shipping Tanker (Dalian) Co. Ltd, according to a notice from the department’s Office […]

September 26, 2019

COSCO Shipping Tanker (Dalian) Co. and COSCO Shipping Tanker (Dalian) Seaman & Ship Management Co. were determined by the Secretary of State to meet the criteria for the imposition of sanctions. It was further stated that the sanctions applied only […]

September 17, 2019

The undisclosed vessel was reportedly smuggling 250,000 liters of diesel fuel to the United Arab Emirates when it was detained by the country’s Revolutionary Guards. ISNA noted that the tanker was detained near the Greater Tunb island in the Gulf. […]

September 9, 2019

Iran’s state news agency IRNA quoted Foreign Ministry spokesman Abbas Mousavi as saying that the vessel reached its destination on the Mediterranean coast where it offloaded the cargo, without providing details on the ship’s exact port of call. The 300,579-dwt […]

August 19, 2019

The tanker was seized by the Gibraltar law enforcement agencies on July 4 for transporting 2.1m barrels of Iranian crude oil to Baniyas Oil Refinery in Syria. The detention was subsequently confirmed and extended by the Chief Justice of the […]

August 15, 2019

Namely, the authorities have made a last-minute application to block the release of the tanker, that was seized in waters off Gibraltar by the UK in early July under suspicion of violating EU sanctions and transferring oil to Syria. The […]

June 25, 2019

According to a statement from the U.S. Department of the Treasury, the Office of Foreign Assets Control (OFAC) took action against eight senior commanders of Navy, Aerospace, and Ground Forces of the Islamic Revolutionary Guards Corps (IRGC). Additionally, the move […]

February 8, 2019

The sanctions on Iranian energy, shipbuilding, shipping and banking sectors imposed last year have forced South Korea to look for alternative sources of condensates, thereby impacting tonne-mile demand. Moreover, as Asian petchem consumption is likely to slow down, intra-regional trade […]

November 21, 2018

Namely, the shipments of oil to Syrian government-controlled ports are part of U.S. government’s clampdown on Iran’s shipping and shipbuilding sector. “The United States will aggressively seek to impose sanctions against any party involved in shipping oil to Syria, or […]

November 9, 2018

Hook argued that now that sanctions have been reimposed on Iran’s shipping sector, Iranian tankers calling at international ports and passing through waterways pose a major risk. Namely, since the U.S. sanctions also cover the provision of underwriting services, insurance, […]

November 5, 2018

The sanctions will be imposed on entities, vessels and individuals, the ultimate aim being “to compel Iran to permanently abandon its well-documented outlaw activities,” Secretary of State Mike Pompeo said. By exerting pressure on Iran, the U.S. expects the country’s […]

May 9, 2018

Trump said on Tuesday, May 8, that the United States will pull back from the Joint Comprehensive Plan of Action (JCPOA) and begin reimposing U.S. nuclear-related sanctions on the Iranian regime. “Treasury’s Office of Foreign Assets Control (OFAC) is taking […]