OFAC Sanctions Dubai Company, Vessels for Moving Iranian Goods

The Office of Foreign Assets Control this week sanctioned Dubai-based Oceanlink Maritime DMCC, along with 13 of its ships, for helping to transport Iranian commodities for the country’s military. OFAC said Oceanlink has used its vessels to generate revenue for Iran, including through the Hecate, a vessel the company used to load more than $100 million worth of Iranian commodities through a ship-to-ship transfer from another sanctioned tanker, the Dover.

The agency said Oceanlink’s ships are “deeply involved” in shipping Iranian goods, including on behalf of Iran’s Sepehr Energy Jahan Nama Pars, which OFAC sanctioned in November for its ties to Iranian trade (see 2311290034). Brian Nelson, the Treasury Department’s undersecretary for terrorism and financial intelligence, said the agency is “focused on disrupting” Iran’s financing efforts and “will continue to use our full range of tools to target the illicit funding streams.”