The Office of Foreign Assets Control announced the following sanctions action last week.
Iran-related Sanctions
- OFAC targets Iranian liquified petroleum gas magnate: Iran on April 22 designated Iranian national and liquified petroleum gas (LPG) magnate Seyed Asadoollah Emamjomeh and his corporate network, for shipping hundreds of millions of dollars’ worth of Iranian LPG and crude oil to foreign markets. Emamjomeh’s expansive network includes a vessel, the TINOS I, which intended but failed to load cargo in 2024 off the coast of Houston, Texas. In addition to crude oil, LPG continues to be a major source of revenue for the Iranian regime. OFAC’s action is being taken pursuant to Executive Order 13902, which targets those operating in certain sectors of the Iranian economy. This action is in furtherance of Treasury’s implementation of National Security Presidential Memorandum 2 (NSPM-2), instituting a campaign of maximum economic pressure on Iran. Read more.
Russia-related, Ukraine-related and Belarus-related Sanctions
- OFAC on April 22 announced changes to a list of entities previously designated under Executive Order 14024, “Blocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federation;” Executive Order 13662, “Blocking Property of Additional Persons Contributing to the Situation in Ukraine;” and Belarus Sanctions Regulations, 31 C.F.R. part 548; Executive Order 13405, “Blocking Property of Certain Persons Undermining Democratic Processes or Institutions in Belarus.” See the list.
