Treasury tags 24 more companies with IRISL ties
The U.S. Treasury Department has named an additional 24 shipping companies with affiliation to the Islamic Republic of Iran Shipping Lines.
The action build on Treasury's efforts to expose the financial and corporate underpinnings of IRISL, which faces international sanctions for its involvement in Iran's missile programs. The department said the actions respond to continuing efforts by Iran to evade sanctions and its ongoing creation and use of new front companies, subsidiaries, affiliates, and other deceptive measures to protect IRISL and advance its proliferation activities.
'IRISL is under tremendous financial pressure from international sanctions, and it is going to extreme lengths to obscure its network and the ownership of vessels,' said Stuart Levey, under secretary for terrorism and financial intelligence, in a statement.
Specifically, four Hong Kong-based shipping companies — Starry Shine International Ltd., Ideal Success Investments Ltd., Top Glacier Company Ltd., and Top Prestige Trading Ltd. — were found to be owned and managed by Ahmad Sarkandi and Ghasem Nabipour, two individuals designated by Treasury in October 2010 for acting for or on behalf of IRISL.
Another 16 shipping companies, each based at the same address in Hong Kong were found by Treasury to be own or controlled by IRISL or affiliated entities. In late 2009, these 16 companies became owners of a series of vessels, each of which is already identified on the Office of Foreign Assets Control’s Specially Designated Nationals and Blocked Persons List as blocked property tied to IRISL, that were previously owned by the four Hong Kong companies.
In addition, Treasury designated four shipping companies that share their Isle of Man registered addresses with eight previously designated shipping companies owned by IRISL.