On 19 March 2020, the US Treasury Departmentās Office of Foreign Assets Control (āOFACā) sanctioned five companies based in the United Arab Emirates (“UAE”), pursuant to Executive Order 13846 (āEO 13846ā), for their alleged involvement in purchasing hundreds of thousands of metric tons of petroleum products from the National Iranian Oil Company (āNIOCā) for delivery to the UAE. The following UAE-based companies were added to the US Specially Designated Nationals and Blocked Persons List (“SDN List”):…
Tag