On June 24, 2020, the US Department of the Treasury’s Office of Foreign Assets Control designated five captains for delivering Iranian gasoline and gasoline components to the Maduro regime in Venezuela, pursuant to Executive Order 13599. According to the Department of the Treasury, the five captains work for the Islamic Republic of Iran Shipping Lines or the National Iranian Tanker Company, two US sanctioned entities, and within the last month, allegedly chartered vessels that were identified on OFAC’s Specially Designated National and Blocked Person List.
The Department of the Treasury reports that the Iranian regime has sent five tankers containing 1.5 million barrels of gasoline and gasoline components to Venezuela, with plans to continue gasoline sales to Venezuela, while imposing strict rations and a 50 percent price hike on gasoline on the Iranian people. In fact, when Iranian citizens protested the government’s sudden restriction on their access to fuel, Iranian security forces allegedly killed almost 1,500 demonstrators, including women and children.
As a result of these designations, all US property for the five individuals is blocked, and all transactions and dealings with US persons are generally prohibited. Furthermore, any person who transacts with a designated person may themselves be exposed to sanctions, and any foreign financial institution that knowingly facilitates a transaction for a sanctioned person, could be subject to US sanctions.