The United States has named Slogal Energy DMCC, a unit of Sri Lank’s Laugfs group, for allegedly trading in Iranian petrochemicals.
“United Arab Emirates (UAE)-based Markan White Trading Crude Oil Abroad Co. L.L.C (Markan White) and Slogal Energy DMCC (Slogal) play a key role in enabling the sale and shipment of Iranian LPG to Sri Lanka,” a US Treasury statement said.
“In late 2024, PGPICC and Markan White used Slogal to help facilitate the sale, shipment, and export of millions of dollars’ worth of Iranian LPG to Sri Lanka,” it said.
“In 2024 and 2025, Slogal purchased Iranian LPG that was delivered to Sri Lanka, with multiple shipments of Iranian LPG reaching end users in Sri Lanka and Bangladesh.”
“In 2024, Palau-flagged MAX STAR (IMO9134165) delivered Iranian LPG that was purchased by Slogal. Similarly in 2025, Slogal purchased Iranian LPG that was delivered by Panama-flagged GAS DIOR (IMO 9379404) to Sri Lanka.
“In early 2025, GAS DIOR delivered over 17,000 metric tons of Iranian LPG to Bangladesh, making an additional LPG delivery for now-sanctioned supplier Octane Energy FZCO.”
Slogal Energy DMCC, along with several Chinese and UAE firms were were “designated pursuant to Executive Orer 13902 for operating in the petroleum sector of the Iranian economy,” the US statement said.
“As a result of today’s action, all property and interests in property of the designated or blocked persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC,” the statement said.
“In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked.”
“Unless authorized by a general or specific license issued by OFAC, or exempt, OFAC’s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked persons.”
“Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons. OFAC may impose civil penalties for sanctions violations on a strict liability basis.”
“In addition, financial institutions and other persons may risk exposure to sanctions for engaging in certain transactions or activities involving designated or otherwise blocked persons.”
“The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated or blocked person, or the receipt of any contribution or provision of funds, goods, or services from any such person,” added the US statement.
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