November 20, 2018

Nine targets designated in oil network involving Iran, Russia, and Syria

OFAC announced the designation of nine individuals involved in a complex scheme resulting in the delivery of oil from Iran to Syria and the transfer of funds to Hamas and Hizbollah indirectly through the Islamic Revolutionary Guard Corps-Qods Force, thereby bolstering the Assad regime in Syria.  As noted by the Undersecretary for Terrorism and Financial Intelligence, “The United States will aggressively seek to impose sanctions against any party involved in shipping oil to Syria, or seeking to evade our sanctions on Iranian oil.  Shipping companies, insurers, vessel owners, managers and operators should all be aware of the grave consequences of engaging in sanctionable conduct involving Iranian oil shipments.”  OFAC also issued an advisory to the maritime petroleum shipping community.

OFAC press release | OFAC advisory