Info:
Owned or controlled by the Al-Bazzal. Al-Bazzal has leveraged his companies, to finance and coordinate various IRGC-QF-linked oil shipments;
Al-Bazzal has sought to continue operating his network since being designated by OFAC by purporting to transfer ownership of his companies, including Nagham al Hayat and Tawafuk. In early 2019, al-Bazzal sought to remove his name as an owner and shareholder from all company documents, presumably in order to evade U.S. sanctions;
The Department of the Treasury’s Office of Foreign Assets Control (OFAC) on September 4, 2019 took action against a large shipping network that is directed by and financially supports the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and its terrorist proxy Hizballah. Over the past year, the IRGC-QF has moved oil worth hundreds of millions of dollars or more through this network for the benefit of the brutal Assad regime, Hizballah, and other illicit actors. Senior IRGC-QF official and former Iranian Minister of Petroleum Rostam Qasemi oversees this sprawling network, which features dozens of ship managers, vessels, and facilitators. This complex network of intermediaries enables the IRGC-QF to obfuscate its involvement in selling Iranian oil. The IRGC-QF also relies heavily on Hizballah officials and front companies to broker associated contracts. OFAC also is issuing a new shipping advisory to the maritime community warning of these types of schemes and the sanctions risks associated with blocked persons;
Also Known As:
Nagham Al Hayat LTD
Nagham Al Hayat Company
Country:
Syria
Address:
Building 25, al-Bahdaliyah, Damascus, Syria
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 September 4, 2019 pursuant to Executive Order 13224 today for being owned or controlled by Muhammad Qasim al-Bazzal;
» Map of designated network;