New OFAC License Allows Transactions With Vessel Owned by Sanctioned Iranian
The Office of Foreign Assets Control is authorizing certain transactions related to the M.V. Tinos I, a vessel owned by sanctioned Iranian national and liquified petroleum gas magnate Seyed Asadoollah Emamjomeh (see 2504220032), while it's in the U.S.
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New General License Q authorizes "limited safety, environmental, and sale transactions" with the vessel; Emamjomeh's son, Meisam Emamjomeh; Pearl Petrochemical FZE, a company owned by Emamjomeh; and any entity they own by 50% or more. It also authorizes transactions involving the safe docking and anchoring of the Tinos I in port, the "preservation of the health and safety of the crew," emergency repairs or "environmental mitigation or protection activities," vessel management services, and "other services necessary to maintain normal vessel standards" for the Tinos I or the sale of the ship.
The Treasury Department said in April that the Tinos I "intended but failed to load cargo in 2024 off the coast" of Houston. The cargo was scheduled to be sold in China, the department said.