Risk Level:
99% May harm your business future; Persons or entities that engage in transactions with this entity will be exposed to sanctions or subject to an enforcement action;
Status:
Top Alert – Entity designated / sanctioned for terror, WMD and human rights violation
Info:
Iranian Oil Company is wholly owned by Naftiran Intertrade Company (NICO);
Naftiran Intertrade Company (NICO) is itself designated under EU sanctions because it is wholly owned by the National Iranian Oil Company (NIOC), which is also an EU designated entity because it provides financial resources to the Government of Iran. All three Board Directors of IOC as at 18 December 2012 have previously worked for NIOC in a directorship role, further demonstrating the strong link between IOC and NIOC;
Also Known As:
IOC
Involved In:
Nuclear Weapon Program
Missile Weapon program
Country:
United Kingdom
Address:
NIOC House 6th Floor, 4 Victoria Street, London, United Kingdom
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 9/6/2013 pursuant to Executive Order 13599, which blocks the property of the Government of Iran, including those of individuals and entities identified as acting for or on behalf of the Government of Iran. Transactions by U.S. persons or through the United States with any of these entities are generally prohibited, and any assets they may have under U.S. jurisdiction are blocked. Further, foreign persons and financial institutions that facilitate transactions for such persons or provide them with material support may also be exposed to sanctions;
» Listed by the European Union in October 2012 as an entity linked to Iran’s proliferation-sensitive nuclear activities or Iran’s development of nuclear weapon delivery systems;
» Removed from the E.U. list in January 2016 as part of the Joint Comprehensive Plan of Action;
