US State Department designates vessels, entities involved in Iranian trade

The US Department of State recently imposed sanctions on three United Arab Emirates companies involved in the transport of Iranian petroleum or petrochemical products, under Executive Order (EO) 13846. The department is also identifying 11 vessels associated with the said entities as blocked property.

Sea Route Ship Management is involved in the transport of Iranian petrochemical products as the commercial manager of the vessel Astra. The company knowingly engaged in a significant transaction for the transport on Astra of petrochemical products from Iran in late November 2021.

Almanac Ship Management is involved in the transport of Iranian petroleum products as the commercial manager of the vessel Berenice Pride. The company knowingly engaged in a significant transaction for the transport on Berenice Pride of petroleum products from Iran in late October 2022.

Al Anchor Ship Management is involved in the transport of Iranian petroleum products as the commercial manager of the vessel Parine. The company knowingly engaged in a significant transaction for the transport on Parine of petroleum products from Iran in late October 2022.

The above companies are being designated pursuant to section 3(a)(iii) of EO 13846 for on or after November 5, 2018, having knowingly engaged in a significant transaction for the purchase, acquisition, sale, transport, or marketing of petrochemical products from Iran. Associated with the above companies and also designated as blocked property are the vessels Baltic Horizon, Nile, Yamuna, Harmony, Euro Viking, Euro Fortune, Arabian Energy, and Road.

All property and interests in property of these targets that are in the United States, that hereafter come within the United States, or that are or hereafter come within the possession or control of any US persons, including any foreign branches, are blocked and must be reported to the Department of the Treasury’s Office of Assets Control (OFAC.) In addition, any entities that are owned, directly or indirectly, 50 per cent or more by one or more blocked persons are also blocked.

OFAC’s regulations generally prohibit all dealings by US persons or within the United States (including transactions transiting the United States) that involve any property or interests in property of blocked or designated persons.