TREASURY DISRUPTS IRANIAN REGIME'S STRAIT OF HORMUZ EXTORTION NETWORK
The following information was released by the
OFAC Sanctions Illicit Maritime Insurance Scheme and
WASHINGTONToday, the
"With its economy in freefall and inflation in the triple digits, the regime is desperate for cash," said Secretary of the Treasury
OFAC is also reinforcing
Today's action was taken pursuant to Executive Order (E.O.) 13902, which targets
IRANIAN Regime's EXTORTION SCHEME
In an attempt to prop up revenue streams decimated by Operation Epic Fury,
PGSA was designated pursuant to E.O. 13224, as amended, on
Hormuz Safe is an Iranian digital insurance firm that advertises itself as a company offering trusted maritime services, including insurance, traffic control, security, and emergency response, to vessels transiting the
shadow fleet ACTORS
The
The
The unknown-flagged crude oil tanker
The
The
The
The
The
The following companies are being designated pursuant to E.O. 13902 for operating in the petroleum sector of the Iranian economy:
Confident
Billion Nexus Int'l Co., Limited; and
The following vessels are being identified as blocked property of the previously identified blocked persons:
WELL SAIL (
NATSUMI (
CRYSTAL (
NIRETA (
YEHOPE (
LILY (
BREEZE V (
SANCTIONS IMPLICATIONS
As a result of today's action, all property and interests in property of the designated or blocked persons described above that are in
Violations of
The power and integrity of OFAC sanctions derive not only from OFAC's ability to designate and add persons to the SDN List, but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior. For information concerning the process for seeking removal from an OFAC list, including the SDN List, or to submit a request, please refer to OFAC's guidance onFiling a Petition for Removal from an OFAC List.


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