[Federal Register Volume 76, Number 219 (Monday, November 14, 2011)]
[Notices]
[Pages 70544-70546]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-29194]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
OFAC Implementation of Certain Sanctions Imposed on Seven Persons
by the Secretary of State Pursuant to the Iran Sanctions Act of 1996,
as Amended
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Notice.
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SUMMARY: The Treasury Department's Office of Foreign Assets Control
(``OFAC'') is taking action to implement certain of the sanctions
imposed on seven persons by the Secretary of State pursuant to the Iran
Sanctions Act of 1996 (Pub. L. 104-172) (50 U.S.C. 1701 note)
(``ISA''), as amended by the Comprehensive Iran Sanctions,
Accountability, and Divestment Act of 2010 (Pub. L. 111-195)
(``CISADA'').
DATES: OFAC's action to implement the sanctions on Associated
Shipbroking, Petrochemical Commercial Company International, Royal
Oyster Group,
[[Page 70545]]
Speedy Ship, and Tanker Pacific Management (Singapore) Pte. Ltd. was
taken on May 24, 2011. OFAC's action to implement the sanctions on
Allvale Maritime Inc. and Soci[eacute]t[eacute] Anonyme
Mon[eacute]gasque D'Administration Maritime Et A[eacute]rienne was
taken on August 26, 2011. The effective date for these actions is
November 14, 2011 or the date of actual notice, whichever is earlier.
FOR FURTHER INFORMATION CONTACT: Assistant Director for Sanctions
Compliance and Evaluation, Office of Foreign Assets Control, Department
of the Treasury, Washington, DC 20220, tel.: (202) 622-2490.
SUPPLEMENTARY INFORMATION:
Electronic and Facsimile Availability
This document and additional information concerning OFAC are
available from OFAC's Web site (http://www.treasury.gov/offices/enforcement/ofac enforcement/ofac). Certain general information pertaining to OFAC's
sanctions programs also is available via facsimile through a 24 hour
fax-on-demand service, tel.: (202) 622-0077.
Background
ISA, as amended by CISADA, requires the Secretary of State,
pursuant to authority delegated by the President, to impose or waive
sanctions on persons determined to have made certain investments in
Iran's energy sector or to have engaged in certain activities relating
to Iran's refined petroleum sector. Executive Order 13574 of May 23,
2011, ``Authorizing the Implementation of Certain Sanctions Set Forth
in the Iran Sanctions Act of 1996, as Amended,'' requires the Secretary
of the Treasury, pursuant to authority under the International
Emergency Economic Powers Act (50 U.S.C. 1701-1706), to implement
certain of the sanctions imposed by the Secretary of State under ISA,
as amended by CISADA.
The five ISA sanctions that the Secretary of the Treasury is
responsible for implementing are: (i) With respect to section 6(a)(3)
of ISA, to prohibit any United States financial institution from making
loans or providing credits to a person sanctioned under ISA consistent
with section 6(a)(3) of ISA; (ii) with respect to section 6(a)(6) of
ISA, to prohibit any transactions in foreign exchange that are subject
to the jurisdiction of the United States and in which a person
sanctioned under ISA has any interest; (iii) with respect to section
6(a)(7) of ISA, to prohibit any transfers of credit or payments between
financial institutions or by, through, or to any financial institution,
to the extent that such transfers or payments are subject to the
jurisdiction of the United States and involve any interest of a person
sanctioned under ISA; (iv) with respect to section 6(a)(8) of ISA, to
block all property and interests in property that are in the United
States, that come within the United States, or that are or come within
the possession or control of any United States person, including any
overseas branch, of a person sanctioned under ISA, and provide that
such property and interests in property may not be transferred, paid,
exported, withdrawn, or otherwise dealt in; and (v) with respect to
section 6(a)(9) of ISA, to restrict or prohibit imports of goods,
technology, or services, directly or indirectly, into the United States
from a person sanctioned under ISA.
The Secretary of State recently imposed ISA sanctions on eight
persons. See 76 FR 56,866 (Sept. 14, 2011), which provides the names of
the eight persons subject to sanctions, as well as a complete list of
the sanctions imposed on each person. Pursuant to Executive Order
13574, the Secretary of the Treasury is responsible for implementing
certain of the sanctions imposed by the Secretary of State.
Accordingly, the Director of OFAC, acting pursuant to delegated
authority, has taken the actions described below to implement those
sanctions set forth in Executive Order 13574 with respect to the seven
persons listed below. The Secretary of State did not select any of the
five sanctions that the Secretary of the Treasury is responsible for
implementing pursuant to Executive Order 13574 for one of the eight
persons on whom she imposed sanctions, and that person is therefore not
included below.
1. Allvale Maritime Inc., 80 Broad Street, Monrovia, Liberia: The
Director of OFAC has prohibited United States financial institutions
from making loans or providing credits totaling more than $10,000,000
in any 12-month period to Allvale Maritime Inc. unless it is engaged in
activities to relieve human suffering and the loans or credits are
provided for such activities.
2. Associated Shipbroking (a.k.a. ASSOCIATED SHIPBROKING S.A.M.),
Gildo Pastor Center--Block C 4.20, 7 rue du Gabian, Fontvieille MC
98000, Monaco; Web site http://www.associated-shipbroking.mc: The
Director of OFAC has: (a) Blocked all property and interests in
property of Associated Shipbroking that are or come within the United
States, or that are or come within the possession or control of any
United States person, including any overseas branch, and provided that
such property and interests in property may not be transferred, paid,
exported, withdrawn, or otherwise dealt in; (b) prohibited any
transactions in foreign exchange that are subject to the jurisdiction
of the United States and in which Associated Shipbroking has any
interest; and (c) prohibited any transfers of credit or payments
between financial institutions or by, through, or to any financial
institution, to the extent that such transfers or payments are subject
to the jurisdiction of the United States and involve any interest of
Associated Shipbroking.
3. Petrochemical Commercial Company International (a.k.a.
PETROCHEMICAL COMMERCIAL COMPANY INTERNATIONAL LIMITED; a.k.a.
PETROCHEMICAL COMMERCIAL COMPANY INTERNATIONAL LTD; a.k.a.
PETROCHEMICAL TRADING COMPANY LIMITED; a.k.a. ``PCCI''), P.O. Box
261539, Jebel Ali, Dubai, United Arab Emirates; 41, 1st Floor,
International House, The Parade, St. Helier JE2 3QQ, Jersey; Ave. 54,
Yimpash Business Center, No. 506, 507, Ashkhabad 744036, Turkmenistan;
No. 21 End of 9th St, Gandi Ave, Tehran, Iran; 21, Africa Boulevard,
Tehran, Iran; Registration ID 77283 (Jersey); all offices worldwide:
The Director of OFAC has: (a) Blocked all property and interests in
property of Petrochemical Commercial Company International that are or
come within the United States, or that are or come within the
possession or control of any United States person, including any
overseas branch, and provided that such property and interests in
property may not be transferred, paid, exported, withdrawn, or
otherwise dealt in; (b) prohibited any transactions in foreign exchange
that are subject to the jurisdiction of the United States and in which
Petrochemical Commercial Company International has any interest; and
(c) prohibited any transfers of credit or payments between financial
institutions or by, through, or to any financial institution, to the
extent that such transfers or payments are subject to the jurisdiction
of the United States and involve any interest of Petrochemical
Commercial Company International.
4. Royal Oyster Group, ROG Corporate Office, Royal Oyster General
Trading LLC, P.O. Box 34299, Dubai, United Arab Emirates; Web site
www.oystersgroup.com: The Director of OFAC has: (a) Blocked all
property and interests in property of Royal Oyster Group that are or
come within the United States, or that are or come within the
possession or control of any United States person, including any
overseas branch, and provided that such property and interests in
property may not be
[[Page 70546]]
transferred, paid, exported, withdrawn, or otherwise dealt in; (b)
prohibited any transactions in foreign exchange that are subject to the
jurisdiction of the United States and in which Royal Oyster Group has
any interest; and (c) prohibited any transfers of credit or payments
between financial institutions or by, through, or to any financial
institution, to the extent that such transfers or payments are subject
to the jurisdiction of the United States and involve any interest of
Royal Oyster Group.
5. Soci[eacute]t[eacute] Anonyme Mon[eacute]gasque D'Administration
Maritime Et A[eacute]rienne (a.k.a. S.A.M.A.M.A.; a.k.a. SAMAMA), Villa
Saint Jean, 3 Ruelle Saint Jean, MC 98000, Monaco: The Director of OFAC
has prohibited United States financial institutions from making loans
or providing credits totaling more than $10,000,000 in any 12-month
period to Soci[eacute]t[eacute] Anonyme Mon[eacute]gasque
D'Administration Maritime Et A[eacute]rienne unless it is engaged in
activities to relieve human suffering and the loans or credits are
provided for such activities.
6. Speedy Ship FZC (a.k.a. SEPAHAN OIL COMPANY; a.k.a. ``SPD''),
Room 206, 2nd Floor, Building W5B, Dubai Airport Free Zone, P.O. Box
54916, Dubai, United Arab Emirates: The Director of OFAC has: (a)
Blocked all property and interests in property of Speedy Ship that are
or come within the United States, or that are or come within the
possession or control of any United States person, including any
overseas branch, and provided that such property and interests in
property may not be transferred, paid, exported, withdrawn, or
otherwise dealt in; (b) prohibited any transactions in foreign exchange
that are subject to the jurisdiction of the United States and in which
Speedy Ship has any interest; and (c) prohibited any transfers of
credit or payments between financial institutions or by, through, or to
any financial institution, to the extent that such transfers or
payments are subject to the jurisdiction of the United States and
involve any interest of Speedy Ship.
7. Tanker Pacific Management (Singapore) Pte Ltd, 1 Temasek Avenue,
38-01 Millenia Tower, Singapore 039192: The Director of OFAC
has prohibited United States financial institutions from making loans
or providing credits totaling more than $10,000,000 in any 12-month
period to Tanker Pacific Management (Singapore) Pte. Ltd. unless it is
engaged in activities to relieve human suffering and the loans or
credits are provided for such activities.
The four persons listed above whose property and interests in
property are blocked have been added to OFAC's List of Specially
Designated Nationals and Blocked Persons with the identifying tag
``ISA''.
Dated: October 26, 2011.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
[FR Doc. 2011-29194 Filed 11-10-11; 8:45 am]
BILLING CODE 4810-AL-P