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;

Working with this entity means supporting Iranian Regime, Regime Terrorist Activities & development of WMD

Status:
Top Alert – Entity designated / sanctioned for terror, WMD and human rights violation

Info:
Zhuhai Zhenrong Company is a state-owned oil trading company. The Company primarily engages in international oil trading. Other businesses include agency and principal trading of import and export of a broad range of products;

Zhuhai Zhenrong Company Limited knowingly engaged in a significant transaction for the purchase or acquisition of crude oil from Iran. The transaction in question took place after the expiration of China’s Significant Reduction Exception (SRE) on May 2, 2019, and was not covered by that SRE. Among other things, the imposition of these sanctions blocks all property and interests in property of Zhuhai Zhenrong Company Limited that are in the United States or within the possession or control of a U.S. person, and provides that such property and interests in property may not be transferred, paid, exported, withdrawn, or otherwise dealt in;

Additionally, the United States is imposing several restrictions as well as a ban on entry into the United States on Youmin Li, a corporate officer and principal executive officer of Zhuhai Zhenrong Company Limited. To implement my action today, the Department of the Treasury is adding Zhuhai Zhenrong Company Limited and Youmin Li to its List of Specially Designated Nationals and Blocked Persons;

In May 2018, when the Trump administration re-imposed unilateral sanctions against Iran after the complete withdrawal from the JCPOA, China started to shift its petroleum cargo to ships owned by the NITC to maintain or even increase imports from Iran. It was not immediately clear, which entities would provide insurance for those shipments worth $1.5 billion a month. Zhuhai Zhenrong Corp. and Sinopec Group have activated a business clause in their long term supply agreement with NIOC, and likely Iran will cover all the costs and risks, including insurance, for the delivery of the crude;

“State refiner Sinopec Corp and state-run oil trader Zhuhai Zhenrong Corp, the two biggest Chinese lifters of Iran’s oil, are set to roll over annual supply agreements with National Iranian Oil Co (NIOC), with combined volumes of about 505,000 bpd, two sources with knowledge of the agreements said. Additionally, China National Petroleum Corp (CNPC) and Sinopec expect to lift more oil this year from two oilfields they operate under service contracts, the sources said.” (Reuters, “China’s Iran oil imports to hit record on new production: sources,” 1/5/2017);

Also Known As:
Zhuhai Zhenrong Co
Zhuhai Zhenrong Company
Zhuhai Zhenrong Company Limited

Country:
China

Address:
121, DaTunli Chaoyang District, Beijing, 100108 China

Phone:
8610-52025900

Website:
www.zhzrgs.com.cn

E-mail:
info@zhzrgs.com.cn

Person of Interests:
Youmin Li

Reason for the color:
» United States as part of maximum economic pressure campaign against the Iranian regime imposed sancions on the Chinese firm Zhuhai Zhenrong Company Limited for knowingly purchasing or acquiring oil from Iran, contrary to U.S. sanctions;


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IFMAT Color Guide

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We sort entities who are connected with terrorist activities, in two sections, first by risk and second by geolocation.
GeoLocation divisions are divided into two fields, Black List and Gray List.
BlackList is a list of all companies, organizations and figures who originate from Iran.
GrayList is a list of all companies, organizations and figures out of Iranian borders, and doing business with Iran.
We identify risk of entities by COLOR selection, each color marks the risk level of the entity.(by declining order)
 
TOP ALERT
Designated / Sanctioned / Illicit entities
 
HIGH ALERT
Entities affiliated with Designated / Sanctioned / Illicit entities.
 
MEDIUM ALERT
Entities sanctioned in the past for Terror or Illicit activities / WMD related / Human rights violations.
 
RISK ALERT
Entities in a problematic sector - Sector controlled by the Top Alert entities.
 
GENERAL ALERT
Legitimate entities - we cannot determine whether an entity is completely green, and that is due to the facts that the Iranian economy is not transparent enough for us. Be sure.