UAE-based Oceanlink Maritime DMCC is at the center of sanctions announced this Thursday by the US Treasury Department.
These measures are aimed at disrupting illicit financial flows supporting Iran’s destabilizing activities in the region and around the world, according to Brian E. Nelson, the U.S. Treasury’s Assistant Secretary for Terrorism and Financial Intelligence.
Oceanlink Maritime DMCC is accused of facilitating the shipment of Iranian goods on behalf of the General Staff of the Iranian Armed Forces (AFGS) and the Ministry of Defense and Armed Forces Logistics (MODAFL).
As a result of today’s action, all property and ownership interests of the above named persons located in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC.
In addition, all entities owned, directly or indirectly, individually or wholly, 50% or more by one or more blocked persons are also blocked.
All financial institutions and other entities that engage in certain transactions or activities with sanctioned entities or individuals are exposed to sanctions or may be subject to coercive measures. Prohibitions include the provision of contributions of funds, goods or services by, to or for the benefit of any designated person, as well as the receipt of contributions of funds, goods or services from any designated person.
The restrictive measures are intended to deprive sanctioned entities and individuals of any access to financial and commercial resources from the United States and its entities, as well as to deter any future involvement in illicit activities or in violation of international sanctions.
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