Info:
Cambis, President of Impire Shipping Limited (Impire), established his shipping company, as well as several front companies, to purchase oil tankers while disguising the fact that the tankers were being purchased on behalf of the National Iranian Tanker Company (NITC). These front companies were used to obscure the fact that these vessels, which are capable of carrying roughly 200 million dollars worth of oil per shipment, are the property of the Iranian government. Another front company, Libra Shipping, operates the vessels Cambis and Impire purchased on behalf of NITC with the aim of loading them with Iranian oil supplied by the National Iranian Oil Company (NIOC). These operations are conducted through a series of ship-to-ship transfers in an attempt to mask the fact that the true origin of the oil is from Iran and to introduce it into the global market as if it were non-Iranian oil. In December 2012, for example, NITC and Impire completed a ship-to-ship transfer of Iranian oil off Khor Fakkah, U.A.E. These operations are a clear example of NITC’s ongoing business practices designed to deceive the international community and evade sanctions. To date, Treasury has identified 58 vessels as blocked property in which NITC has an interest;
Treasury is also identifying the eight tankers purchased by Cambis on behalf of NITC, the eight front companies that nominally own them, as well as a network of Iranian government front companies that provided some of the funds that Impire Shipping Company used to purchase vessels for NITC. This network of Iranian government front companies includes Sima General Trading, Polinex General Trading, Asia Energy General Trading and Synergy General Trading;
Sima General Trading Company and Asia Energy General Trading have each made payments of more than $100 million to Impire. Polinex General Trading Company has also supplied money to Impire for the purchase of oil tankers;
Also Known As:
Impire Shipping Company
Impire Shipping
Impire Shipping Limited
Industry:
Shipping Industry
Country:
Greece
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 3/14/2013 pursuant to Executive Order 13599, which blocks the property of the Government of Iran;
» As part of the re-imposition of U.S. sanctions on Iran, added on November 5, 2018 to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC), freezing its assets under U.S. jurisdiction and prohibiting transactions with U.S. parties, pursuant to Executive Order 13599, which blocks the property of the Government of Iran;