OFAC adds Iran-linked refinery network to SDN List
Screening teams must block newly listed Iran-linked refinery parties immediately
Change
OFAC added Iran-linked individuals and AKU Tejarat Ravizh Kish Company to the SDN List under Executive Order 13902.
Why it matters
Property and interests of listed parties under US jurisdiction are now blocked. Secondary-sanctions exposure applies to non-US parties dealing with the Iran-linked refinery network.
Implications
- — Sanctions screening teams must update SDN filters for new names and aliases — AKU Tejarat Ravizh Kish Company, Farab Soroush Afagh Qeshm Company, and Tejarat Sarir Afrooz Kish Company require immediate screening attention.
- — Banks and trade-finance teams must block matched property and halt SDN-linked transactions — processing a matched payment or shipment risks a prohibited transfer.
Who is affected
- — Sanctions screening teams
- — Correspondent banks
- — Trade-finance teams