Hong Kong-based IRGC-QF front company China Oil and Petroleum Company Limited (COPC) has arranged contracts and sold hundreds of millions of dollars’ worth of Iranian commodities for the benefit of the IRGC-QF. IRGC-QF officials, to include deceased IRGC-QF official Rostam Ghasemi, have represented COPC, which has used falsified documents to mask the origin of the Iranian commodities. COPC coordinated with Mira to sell Iranian commodities to a PRC-based entity via the M/T SARAK, a vessel that was identified as blocked property of the Mehdi Group, which was designated pursuant to E.O. 13224 in August 2019 for its provision of support to Rostam Ghasemi. COPC similarly coordinated with U.S.-designated Kasim Oztas, a member of U.S.-designated Sitki Ayan’s ASB Group network, to facilitate trade with PRC-based entities for the benefit of the IRGC-QF.
China Oil and Petroleum Company Limited is being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, the IRGC-QF.
Kasim Oztas and Sitki Ayan were designated pursuant to E.O. 13224, as amended, on December 8, 2022, for providing support to the IRGC-QF. ASB Group was designated pursuant to E.O. 13224, as amended, on December 8, 2022, for being owned, controlled, or directed by, directly or indirectly, Sitki Ayan.
“Iran’s continued proliferation of its advanced conventional weapons, including the UAVs and missiles that target U.S. soldiers, remains a critical threat to the stability of the region,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. “We will not hesitate to leverage our full suite of tools to disrupt the illicit procurement networks that supply the components for these weapons systems, as well as hold accountable those who seek to export these weapons to terrorist proxy groups.”
All property and interests in property of the entities named above, and of any entities that are owned, directly or indirectly, 50 percent or more by them, individually or with other blocked persons, that are in the United States or in the possession or control of U.S. persons must be blocked and reported to OFAC. All transactions by U.S. persons or within the United States (including transactions transiting the United States) that involve any property or interests in property of blocked or designated persons are prohibited.
In addition, persons that engage in certain transactions with the entities designated today may themselves be exposed to sanctions. Furthermore, any foreign financial institution that knowingly facilitates a significant transaction or provides significant financial services for any of the or entities designated today could be subject to U.S. sanctions.
Also Known As:
China Oil and Petroleum Company Limited
Organization Established Date:
16 Oct 2018
RM702, 7/F Waga Comm Ctr 99, Wellington St. Central, Hong Kong, China
2755177 (Hong Kong)
Legal Entity Number
Business Registration Number
69969691-000 (Hong Kong)
Reason for the color:
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on February 2, 2024 pursuant to Executive Order 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, the IRGC-QF;