Subordinate to Islamic Republic of Iran Shipping Lines (IRISL).
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 June 20, 2011, pursuant to Executive Order 13382, which targets proliferators of weapons of mass destruction (WMD) and their delivery systems; removed from the SDN list in January 2016 as part of the Joint Comprehensive Plan of Action; listed by the European Union on December 1, 2011 as an entity acting on behalf of IRISL; removed from the E.U. list in January 2016 as part of the Joint Comprehensive Plan of Action.
Indicted in New York state court in June 2011 for allegedly serving as a front company in a conspiracy to channel funds through the U.S. banking system for IRISL, in violation of U.S. sanctions; according to the indictment, was used by Irinvestship Ltd. as a corporate alter ego to gain access to the U.S. financial system, and was involved in wire transfers through New York financial institutions of more than $16 million, all of which were sent to or from sanctioned entities.
Has been controlled by Mohammad Hadi Pajand; formerly known as Fairplay Shipping Limited; UK Company No.: 06531277; incorporated on March 11, 2008.
Source: / Iranwatch /