The Strong Defense
You Deserve

Text Us Now

  1. Home
  2.  » 
  3. OFAC
  4.  » OFAC Sanctions Quintet Of UAE Firms For Allegedly Facilitating Iran’s Petroleum Sales

OFAC Sanctions Quintet Of UAE Firms For Allegedly Facilitating Iran’s Petroleum Sales

The Federal government recently levied sanctions upon five companies based in the United Arab Emirates on allegations that they aided the Iranian government to evade sanctions on petroleum sales abroad.

Last week the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) said the five firms purchased hundreds of thousands of metric tons of petroleum from the national oil company despite longstanding international embargoes on the sale of Iranian oil.

OFAC says the companies falsified paperwork in an attempt at masking the true origin of the petroleum. Revenue from the sale of Iran’s petroleum is used to fund terrorism around the world according to OFAC. The Office says a prime benefactor from Iran’s petroleum sales is the Islamic Revolutionary Guard Corps-Qods Force’s (IRGC-QF), who they allege carry out “malign activities” in many Middle Eastern countries.

This designation is the latest of several by OFAC against parties it says are assisting Iran in selling petroleum. January saw a quartet of international oil companies sanctioned by the Office on simlar allegations, as well as over a dozen Iranian metals companies for allegedly doing the same. Last summer the office sanctioned Iran’s biggest petrochemical holding group for funding the previously-designated Khatam al-Anbya Construction Headquarters, which is a branch of the Islamic Revolutionary Guard Corps (IRGC). Along with the petrochemical holding group, OFAC also designated its over-three-dozen subsidiary companies and foreign-based sales agents for like reasons.

The Law Offices of Bjorn Brunvand have been representing people charged with capital murder, felony drug charges, drunk driving, government fraud, and white-collar crimes for over a quarter century. Contact our office today to discuss your Tampa Bay-area state or federal charges.


FindLaw Network