Iran General NewsTreasury blacklists six who allegedly evaded Iran oil sanctions

Treasury blacklists six who allegedly evaded Iran oil sanctions

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Wall Street Journal: The U.S. Treasury Department on Friday blacklisted six individuals and four businesses, citing their alleged involvement in an attempt to evade Iranian oil sanctions.

 

The Wall Street Journal

Rachel Louise Ensign

The U.S. Treasury Department on Friday blacklisted six individuals and four businesses, citing their alleged involvement in an attempt to evade Iranian oil sanctions.

The move targeted a network allegedly run by Iranian businessman Seyed Seyyedi, who is allegedly involved with a number of front companies that facilitate oil deals, the department said in a press release.  Mr. Seyyedi allegedly also serves as managing director of Sima General Trading, which was added to the Office of Foreign Assets Control blacklist in March.

“Our sanctions on Iran’s oil sales are a critically important component of maintaining pressure on the Iranian Government, and we will not allow Iran to relieve that pressure through evasion and circumvention,” said Treasury under secretary for terrorism and financial intelligence David S. Cohen in the release.

The designations came the same day a European Union court ruled against the bloc’s freeze on seven companies allegedly linked to Iran’s nuclear program.

Mr. Seyyedi allegedly used the firms United Arab Emirates-based KASB International LLC, Petro Royal FZE, and AA Energy FZCO, which were all blacklisted today, in schemes to evade oil sanctions, Treasury said.

The agency also targeted others who allegedly represent the already-blacklisted National Iranian Oil Co., Iran’s state oil company, and its alleged front company Naftiran Intertrade Company Sarl in global oil deals. These individuals were U.K. citizen Mohammad Moinie, and Iranian nationals Reza Parsaei, Seyyed Mohamad Ali Khatibi Tabatabaei, Seyed Mahmoud Mohaddes and Mahmoud Ziracchian Zadeh.

Also blacklisted was Swiss Management Services Sarl, based in Switzerland, which is allegedly used as a front company by Naftiran Intertrade Company Sarl.

The Wall Street Journal earlier reported that Mr. Seyyedi couldn’t be reached for comment and Seyyed Mohamad Ali Khatibi Tabatabaei, described as NIOC’s director of international affairs, said he no longer holds that position. “They made a mistake,” he said.

The designations came under a 2012 executive order that blocked the property of the Iranian government and Iranian financial institutions.

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