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i-maritime news letter

US slaps sanctions against 10 Iranian shipping cos - 2011-12-26

The US has slapped sanctions against 10 companies linked to the Iranian shipping industry; with many of them linked to Irano Hind, a joint venture with India‘s premier public sector undertaking Shipping Corporation of India (SCI). Today‘s action was being taken as Islamic Republic of Iran Shipping Lines (IRISL) and its subsidiaries have increasingly relied upon multiple front companies and agents to overcome the impact of US and international sanctions and increased scrutiny of their behaviour, the US Department of Treasury said in a statement. The entities and individual designated today are owned or controlled by, or acting or purporting to act for or on behalf of, directly or indirectly, IRISL, Irano Hind, or ISI Maritime. Irano Hind, the US Treasury said, is a joint venture of IRISL and Shipping Corporation of India. The 10 Malta-based IRISL and Irano Hind affiliated shipping companies are: BIIS Maritime Ltd, ISIM Amin Ltd, ISIM Atr Ltd, ISIM Olive Ltd, ISIM Sat Ltd, ISIM Sea Chariot Ltd, ISIM Sea Crescent Ltd, ISIM Sinin Ltd, ISIM Taj Mahal Ltd, and ISIM Tour Ltd. The Chief Executive and Managing Director of Irano Hind, Mr Jamshid Khalili, who is an Iranian national has also been slapped with sanctions. ―As IRISL and its subsidiaries continue their deceptive efforts to escape the grasp of US and international sanctions, we will continue to take action — as we are today — to expose the front companies, agents and managers working with IRISL and work to stop this illicit business,‖ said the Under Secretary for Terrorism and Financial Intelligence, Mr David S. Cohen.

Source: Hindu Business Line