Atlantic Navigation from India sanctioned for trade of Iranian petroleum

India-based Atlantic Navigation OPC Private Limited was slapped with American sanctions on Thursday on charges of trade of Iranian petroleum and petrochemicals.

The United States imposed sanctions on Thursday on four entities and three vessels involved in the trade of Iranian petroleum and petrochemicals, which generate billions of dollars' worth of revenue for the Iranian regime, the Department of Treasury said.

"Iran continues to rely on its shadowy network of vessels, companies and facilitators to finance the development of its nuclear programme, the proliferation of its weapons systems and support to its proxies," said Acting Under Secretary for Terrorism and Financial Intelligence Bradley T Smith.

Simultaneously, the Department of State also imposed sanctions on four entities engaged in the Iranian petroleum trade and identified six vessels as blocked property. Iran's oil exports are enabled by a network of illicit shipping facilitators in multiple jurisdictions who, through obfuscation and deception, load and transport Iranian oil for sale to buyers in Asia, it said.

Atlantic Navigation OPC Private Limited is an India-based company involved in the transport of Iranian petroleum as the ISM manager of the vessel VIGOR, the State Department said.

Additionally, the Secretary of State determined that Ghezel Hesar Prison in Iran meets the criteria under section 106 of the Countering America's Adversaries Through Sanctions Act (CAATSA).

Ghezel Hesar Prison has been determined by the Secretary of State pursuant to be responsible for gross violations of internationally-recognised human rights, namely cruel, inhuman and degrading treatment or punishment committed against individuals in Iran who seek to exercise their internationally-recognised human right of freedom of expression.

The other companies slapped with US sanctions are Seychelles-based Shiny Sails Shipping Limited, Suriname-based Galaxy Management NV and Hong Kong-based Brecalin Hong Kong Company Limited. The US alleged that they were all involved in transactions for the purchase, acquisition, sale, transport or marketing of petroleum or petroleum products from Iran.

The Cameroon-flagged vessel, AVITAL, is being identified as property in which Shiny Sails Shipping Limited has an interest. The Panama-flagged vessel, VIGOR, is being identified as property in which Galaxy Management NV has an interest.

The Barbados-flagged vessels, PROGRESS V and SCORPIUS, along with the Panama-flagged vessels TASCA and ELIZA II, are being identified as property in which Brecalin Hong Kong Limited has an interest, the Department of Treasury said.