Loading…
Loading…
OFAC's action has two components. First, it designates the Salim Ahmed Said network — a cluster of UAE-registered companies (VS Tankers FZE, formerly Al-Iraqia Shipping Services & Oil Trading FZE; VS Oil Terminal FZE; VS Petroleum DMCC, formerly Ikon Petroleum DMCC; Rhine Shipping DMCC) plus two UK-based holding companies (The Willett Hotel Limited, Robinbest Limited). Since 2020 the network has used ship-to-ship transfers and forged Iraqi documentation to blend Iranian oil with Iraqi crude at VS Oil's six storage tanks in Khor al-Zubayr, Iraq, then sell it to Western buyers as purely Iraqi-origin product — evading both US Iran sanctions and generating bribery proceeds funneled to Iraqi parliamentary officials for forged origin vouchers. The Marshall Islands-flagged tanker DIJILAH (IMO 9829629) is identified as blocked property in which VS Tankers has an interest.
Second, OFAC separately designates five shadow-fleet vessel-owning shell companies for petroleum-sector sanctions violations under E.O. 13902: Seychelles-based Egir Shipping Ltd (owner of tanker VIZURI), Marshall Islands-based Fotis Lines Incorporated (owner of LPG carrier FOTIS) and Themis Limited (owner of tanker THEMIS, previously UK-sanctioned for Russian oil transport on 2025-05-09), and British Virgin Islands-based Betensh Global Investment Limited and Dong Dong Shipping Limited (joint owners of tanker BIANCA JOYSEL, which has moved more than ten million barrels of Iranian crude since mid-2024 via ship-to-ship transfers with vessels owned by previously-designated NITC).
Legal basis is E.O. 13902 (targeting Iran's petroleum and petrochemical sectors) for the petroleum designations and E.O. 13224 as amended (counterterrorism) given the IRGC-Qods Force nexus. Treasury frames this as the eighth round of designations under NSPM-2's Iran maximum-pressure campaign; State Department made parallel E.O. 13846 designations of six entities and four vessels the same day.
Severity is set at 4 (quant basis): the press release discloses that the Said network alone has smuggled oil "since at least 2020" generating proceeds in the "billions of dollars," and the BIANCA JOYSEL alone moved over ten million barrels since mid-2024 — a materially large, quantified volume even though this is one round among many in an ongoing campaign (hence not a 5).
person or US-nexus counterparty dealing with them faces secondary-sanctions exposure.
remain usable for Iran-oil evasion despite years of prior enforcement — watch for UK OFSI follow-on action given Themis was already UK-designated for Russian oil.
(Marshall Islands, Seychelles, BVI, Panama) as the structural chokepoint for shadow-fleet ownership, ahead of the much larger 2025-07-30 Shamkhani network action.
parliamentary officials alleged to have accepted bribes for forged origin vouchers.
purchased "Iraqi" crude later shown to be Iranian-blended product.