The Office of Foreign Assets Control announced the following sanctions action last week.
Iran-related Sanctions
- OFAC designates Iranian Oil Minister and shadow fleet operators: OFAC on March 13 designated Iran’s Minister of Petroleum, Mohsen Paknejad, who oversees the export of tens of billions of dollars’ worth of Iranian oil. Paknejad was designated for his role in allocating billions of dollars’ worth of oil to Iran’s armed forces for export. OFAC also designated several entities in multiple jurisdictions, including the People’s Republic of China and India, for their ownership or operation of vessels that have delivered Iranian oil to the PRC, or lifted Iranian oil from storage in Dalian, PRC. OFAC’s sanctions apply further pressure on the “shadow fleet” and other vessels upon which Iran depends to deliver its oil to the PRC, advancing United States’ commitment to reduce Iran’s oil exports to zero. Read more.
- OFAC sanctions Swedish gang for supporting Iranian regime: OFAC on March 12 sanctioned the Foxtrot Network, a transnational criminal organization (TCO) primarily based in Sweden for trafficking illicit drugs and carrying out attacks on Israelis and Jews in Europe. Also sanctioned was the group’s leader, fugitive Rawa Majid. In January 2024, the Foxtrot Network orchestrated an attack on the Israeli Embassy in Stockholm, Sweden, on behalf of the Government of Iran. Read more.
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