US Treasury Targets Iranian Military Revenue Generation in Bouvet Island

Disruption of Iran’s Terrorist Financing and Support to Russia

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken significant action against Iranian military revenue generation, targeting Oceanlink Maritime DMCC for facilitating the shipment of Iranian commodities on behalf of Iran’s Armed Forces General Staff (AFGS) and Ministry of Defense and Armed Forces Logistics (MODAFL).

Key Points:

• OFAC has designated Oceanlink Maritime DMCC for its role in supporting Iran’s military revenue generation.
• 13 vessels managed by Oceanlink Maritime DMCC have been identified as blocked property, including the HECATE and SAINT LIGHT.
• The company is being sanctioned pursuant to E.O. 13224, as amended, for providing support to Sepehr Energy.

Action Against Vessels Involved in Iranian Commodities Shipment

OFAC has specifically targeted vessels involved in the shipment of Iranian commodities, including:

• HECATE: Loaded over $100 million worth of Iranian commodities via a ship-to-ship (STS) transfer from another sanctioned tanker.
• SAINT LIGHT (formerly YOUNG YONG): Operated under different names and conducted STS transfers with sanctioned vessels.

Implications for US Persons and Entities

As a result of today’s action, all property and interests in property of the designated persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. Additionally, any entities owned 50 percent or more by one or more blocked persons are also blocked.

Seeking Removal from an OFAC List

For information concerning the process for seeking removal from an OFAC list, including the SDN List, please refer to OFAC’s Frequently Asked Question 897 here.