US imposes sanctions on Indian-based Atlantic Navigation for transporting Iranian oil
- In Reports
- 06:35 PM, Dec 20, 2024
- Myind Staff
On Thursday, the United States imposed sanctions on India-based Atlantic Navigation OPC Private Limited, along with four other entities and three vessels. These sanctions were related to their involvement in the trade of Iranian petroleum and petrochemicals, which earn billions of dollars for the Iranian government, according to the U.S. Department of Treasury.
Acting Under Secretary for Terrorism and Financial Intelligence Bradley T. Smith stated, "Iran continues to rely on its shadowy network of vessels, companies and facilitators to finance the development of its nuclear program, the proliferation of its weapons systems, and support to its proxies." At the same time, the Department of State designated six vessels as banned property and placed sanctions on four organisations involved in the Iranian petroleum trade. According to the report, a network of illegal maritime intermediaries operating in several countries facilitate Iran's oil exports by loading and transporting Iranian oil for sale to Asian clients using deceit and obfuscation.
According to the State Department, the ISM manager of the ship VIGOR is Atlantic Navigation OPC Private Limited, an Indian business engaged in the transportation of Iranian petroleum. Ghezel Hesar Prison in Iran also satisfies the requirements under section 106 of the Countering America's Adversaries Through Sanctions Act (CAATSA), according to the Secretary of State. Ghezel Hesar Prison in Iran also satisfies the requirements under section 106 of the Countering America's Adversaries Through Sanctions Act (CAATSA), according to the Secretary of State. The Secretary of State has determined that Ghezel Hesar Prison is responsible for serious violations of internationally recognised human rights, including cruel, inhuman and degrading treatment or punishment against individuals in Iran who are simply trying to exercise their right to freedom of expression.
Additionally, the US has imposed sanctions on three companies: Shiny Sails Shipping Limited, based in Seychelles; Galaxy Management NV, based in Suriname and Brecalin Hong Kong Company Limited, based in Hong Kong. These companies are accused of being involved in the purchase, sale, transport, or marketing of petroleum and petroleum products from Iran. AVITAL, a ship flying the flag of Cameroon, is being identified as property in which Shiny Sails Shipping Limited owns a stake. It is being determined that Galaxy Management NV is a property owner of the Panama-flagged vessel VIGOR. The Department of Treasury stated that the Panama-flagged vessels TASCA and ELIZA II, as well as the Barbados-flagged vessels PROGRESS V and SCORPIUS, are being identified as property in which Brecalin Hong Kong Limited has an interest.
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