Tanker Pacific hit with US sanctions over Iran business

Singapore-based Tanker Pacific Management has found itself in the cross hairs of the US State Department over sanctions against Iran. The Ofer Brothers owned tanker firm was one of seven companies that US secretary of state Hilary Clinton said sanctions will be imposed on “their activities that support the US energy sector”. The sanctions will be made on a case-by-case basis and according to the state department their intent can range from being “dissuasive” to “shutting down the activities of target firms”.


Tanker Pacific said it was “startled” by the action under the Comprehensive Iran Sanctions, Accountability, and Divestment Act, which it said related to the sale the tanker Raffles Park in September last year. Tanker Pacific said it believed the decision by the US state department was “in error”.


“Tanker Pacific has assured the American authorities that all appropriate action was taken at the time of the transaction to ascertain that the parties involved were not connected to the Iranian shipping company, IRISL, or any other entity subject to sanctions,” the company said.
(Source:http://www.seatrade-asia.com)