Iran and Russia signed a contract on Wednesday to build a vessel based on an order by the regional office of the Islamic Republic of Iran Shipping Line Group (IRISL) located in Solyanka, a port near the Russian city of Astrakhan, Iranian media reported
Moscow and Tehran signed a contract on Wednesday to build a vessel based on an order by the regional office of the Islamic Republic of Iran Shipping Line Group (IRISL).
IRISL Cargo Shipment Hit Record High of 27m Tons in Fiscal 2021-22 | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
US slaps sanctions on entities for Iranian steel transactions
The US State Department is sanctioning several entities and individuals for doing steel-related business involving the Islamic Republic of Iran Shipping Lines, its subsidiaries and other Iranian shipping entities, the department said Jan. 15.
State is imposing sanctions on IRISL under the Iran Freedom and Counter-Proliferation Act for knowingly selling grain-oriented electrical steel to Hoopad Darya Shipping Agency Company, according to a statement.
Hoopad is included on the List of Specially Designated Nationals and Blocked Persons maintained by the Treasury Department’s Office of Foreign Assets Control.
“The State Department is also imposing sanctions on Mohammad Reza Modarres Khiabani, CEO of IRISL, who has been determined to be a principal executive officer, or person performing similar functions and with similar authorities, of IRISL,” the department added.
MICHAEL R. POMPEO, SECRETARY OF STATE
In June 2020, the State Department sanctioned the Islamic Republic of Iran Shipping Lines (IRISL) pursuant to Executive Order 13382 (
WMD Proliferators and Their Supporters). At that time, we underscored the fact that IRISL is the preferred shipping line for Iranian proliferators and procurement agents. We have warned industry that those who do business with IRISL, its subsidiaries, and other Iranian shipping entities, risk sanctions. Today, we are sanctioning seven entities and two individuals for such conduct.
As a part of this action, the State Department is imposing sanctions on IRISL pursuant to Section 1245(a)(1)(C)(i)(II) of the Iran Freedom and Counter-Proliferation Act (IFCA). IRISL knowingly transferred, directly or indirectly, to Iran grain-oriented electrical steel to at least one Iranian person on the List of Specially Designated Nationals and Blocked Persons maintained by the Office of Foreign Assets Control of the Depart