Regulatory intelligence for US exporters

OFAC Sanctions Companies, Including in China, for Aiding Iran

The U.S. this week sanctioned six entities and 20 vessels that have helped transport or sell Iranian petroleum or petrochemical products. The designations target companies based in China, Vietnam, the United Arab Emirates and Iran, including China-based Global Marine Ship Management. Co. and Shanghai Xuanrun Shipping. Co., the State Department said. The 20 designated ships have ties to Shanghai Xuanrun Shipping, Vietnam-based Golden Lotus Oil Gas and Real Estate Joint Stock Company, and UAE-based Swedish Management Co.

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New Iran General License O, issued by the Treasury Department, authorizes certain wind-down and “limited safety and environmental” transactions with vessels owned by Golden Lotus Oil Gas, Swedish Management, Shanghai Xuanrun Shipping and Global Marine Ship Management. Those transactions are authorized through 12:01 a.m. EDT June 30. New frequently asked questions 1119 and 1120 provide more information about the license.