[Federal Register Volume 76, Number 219 (Monday, November 14, 2011)]
[Notices]
[Pages 70544-70546]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-29194]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control


OFAC Implementation of Certain Sanctions Imposed on Seven Persons 
by the Secretary of State Pursuant to the Iran Sanctions Act of 1996, 
as Amended

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Notice.

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SUMMARY: The Treasury Department's Office of Foreign Assets Control 
(``OFAC'') is taking action to implement certain of the sanctions 
imposed on seven persons by the Secretary of State pursuant to the Iran 
Sanctions Act of 1996 (Pub. L. 104-172) (50 U.S.C. 1701 note) 
(``ISA''), as amended by the Comprehensive Iran Sanctions, 
Accountability, and Divestment Act of 2010 (Pub. L. 111-195) 
(``CISADA'').

DATES: OFAC's action to implement the sanctions on Associated 
Shipbroking, Petrochemical Commercial Company International, Royal 
Oyster Group,

[[Page 70545]]

Speedy Ship, and Tanker Pacific Management (Singapore) Pte. Ltd. was 
taken on May 24, 2011. OFAC's action to implement the sanctions on 
Allvale Maritime Inc. and Soci[eacute]t[eacute] Anonyme 
Mon[eacute]gasque D'Administration Maritime Et A[eacute]rienne was 
taken on August 26, 2011. The effective date for these actions is 
November 14, 2011 or the date of actual notice, whichever is earlier.

FOR FURTHER INFORMATION CONTACT: Assistant Director for Sanctions 
Compliance and Evaluation, Office of Foreign Assets Control, Department 
of the Treasury, Washington, DC 20220, tel.: (202) 622-2490.

SUPPLEMENTARY INFORMATION:

Electronic and Facsimile Availability

    This document and additional information concerning OFAC are 
available from OFAC's Web site (http://www.treasury.gov/offices/enforcement/ofac enforcement/ofac). Certain general information pertaining to OFAC's 
sanctions programs also is available via facsimile through a 24 hour 
fax-on-demand service, tel.: (202) 622-0077.

Background

    ISA, as amended by CISADA, requires the Secretary of State, 
pursuant to authority delegated by the President, to impose or waive 
sanctions on persons determined to have made certain investments in 
Iran's energy sector or to have engaged in certain activities relating 
to Iran's refined petroleum sector. Executive Order 13574 of May 23, 
2011, ``Authorizing the Implementation of Certain Sanctions Set Forth 
in the Iran Sanctions Act of 1996, as Amended,'' requires the Secretary 
of the Treasury, pursuant to authority under the International 
Emergency Economic Powers Act (50 U.S.C. 1701-1706), to implement 
certain of the sanctions imposed by the Secretary of State under ISA, 
as amended by CISADA.
    The five ISA sanctions that the Secretary of the Treasury is 
responsible for implementing are: (i) With respect to section 6(a)(3) 
of ISA, to prohibit any United States financial institution from making 
loans or providing credits to a person sanctioned under ISA consistent 
with section 6(a)(3) of ISA; (ii) with respect to section 6(a)(6) of 
ISA, to prohibit any transactions in foreign exchange that are subject 
to the jurisdiction of the United States and in which a person 
sanctioned under ISA has any interest; (iii) with respect to section 
6(a)(7) of ISA, to prohibit any transfers of credit or payments between 
financial institutions or by, through, or to any financial institution, 
to the extent that such transfers or payments are subject to the 
jurisdiction of the United States and involve any interest of a person 
sanctioned under ISA; (iv) with respect to section 6(a)(8) of ISA, to 
block all property and interests in property that are in the United 
States, that come within the United States, or that are or come within 
the possession or control of any United States person, including any 
overseas branch, of a person sanctioned under ISA, and provide that 
such property and interests in property may not be transferred, paid, 
exported, withdrawn, or otherwise dealt in; and (v) with respect to 
section 6(a)(9) of ISA, to restrict or prohibit imports of goods, 
technology, or services, directly or indirectly, into the United States 
from a person sanctioned under ISA.
    The Secretary of State recently imposed ISA sanctions on eight 
persons. See 76 FR 56,866 (Sept. 14, 2011), which provides the names of 
the eight persons subject to sanctions, as well as a complete list of 
the sanctions imposed on each person. Pursuant to Executive Order 
13574, the Secretary of the Treasury is responsible for implementing 
certain of the sanctions imposed by the Secretary of State. 
Accordingly, the Director of OFAC, acting pursuant to delegated 
authority, has taken the actions described below to implement those 
sanctions set forth in Executive Order 13574 with respect to the seven 
persons listed below. The Secretary of State did not select any of the 
five sanctions that the Secretary of the Treasury is responsible for 
implementing pursuant to Executive Order 13574 for one of the eight 
persons on whom she imposed sanctions, and that person is therefore not 
included below.
    1. Allvale Maritime Inc., 80 Broad Street, Monrovia, Liberia: The 
Director of OFAC has prohibited United States financial institutions 
from making loans or providing credits totaling more than $10,000,000 
in any 12-month period to Allvale Maritime Inc. unless it is engaged in 
activities to relieve human suffering and the loans or credits are 
provided for such activities.
    2. Associated Shipbroking (a.k.a. ASSOCIATED SHIPBROKING S.A.M.), 
Gildo Pastor Center--Block C 4.20, 7 rue du Gabian, Fontvieille MC 
98000, Monaco; Web site http://www.associated-shipbroking.mc: The 
Director of OFAC has: (a) Blocked all property and interests in 
property of Associated Shipbroking that are or come within the United 
States, or that are or come within the possession or control of any 
United States person, including any overseas branch, and provided that 
such property and interests in property may not be transferred, paid, 
exported, withdrawn, or otherwise dealt in; (b) prohibited any 
transactions in foreign exchange that are subject to the jurisdiction 
of the United States and in which Associated Shipbroking has any 
interest; and (c) prohibited any transfers of credit or payments 
between financial institutions or by, through, or to any financial 
institution, to the extent that such transfers or payments are subject 
to the jurisdiction of the United States and involve any interest of 
Associated Shipbroking.
    3. Petrochemical Commercial Company International (a.k.a. 
PETROCHEMICAL COMMERCIAL COMPANY INTERNATIONAL LIMITED; a.k.a. 
PETROCHEMICAL COMMERCIAL COMPANY INTERNATIONAL LTD; a.k.a. 
PETROCHEMICAL TRADING COMPANY LIMITED; a.k.a. ``PCCI''), P.O. Box 
261539, Jebel Ali, Dubai, United Arab Emirates; 41, 1st Floor, 
International House, The Parade, St. Helier JE2 3QQ, Jersey; Ave. 54, 
Yimpash Business Center, No. 506, 507, Ashkhabad 744036, Turkmenistan; 
No. 21 End of 9th St, Gandi Ave, Tehran, Iran; 21, Africa Boulevard, 
Tehran, Iran; Registration ID 77283 (Jersey); all offices worldwide: 
The Director of OFAC has: (a) Blocked all property and interests in 
property of Petrochemical Commercial Company International that are or 
come within the United States, or that are or come within the 
possession or control of any United States person, including any 
overseas branch, and provided that such property and interests in 
property may not be transferred, paid, exported, withdrawn, or 
otherwise dealt in; (b) prohibited any transactions in foreign exchange 
that are subject to the jurisdiction of the United States and in which 
Petrochemical Commercial Company International has any interest; and 
(c) prohibited any transfers of credit or payments between financial 
institutions or by, through, or to any financial institution, to the 
extent that such transfers or payments are subject to the jurisdiction 
of the United States and involve any interest of Petrochemical 
Commercial Company International.
    4. Royal Oyster Group, ROG Corporate Office, Royal Oyster General 
Trading LLC, P.O. Box 34299, Dubai, United Arab Emirates; Web site 
www.oystersgroup.com: The Director of OFAC has: (a) Blocked all 
property and interests in property of Royal Oyster Group that are or 
come within the United States, or that are or come within the 
possession or control of any United States person, including any 
overseas branch, and provided that such property and interests in 
property may not be

[[Page 70546]]

transferred, paid, exported, withdrawn, or otherwise dealt in; (b) 
prohibited any transactions in foreign exchange that are subject to the 
jurisdiction of the United States and in which Royal Oyster Group has 
any interest; and (c) prohibited any transfers of credit or payments 
between financial institutions or by, through, or to any financial 
institution, to the extent that such transfers or payments are subject 
to the jurisdiction of the United States and involve any interest of 
Royal Oyster Group.
    5. Soci[eacute]t[eacute] Anonyme Mon[eacute]gasque D'Administration 
Maritime Et A[eacute]rienne (a.k.a. S.A.M.A.M.A.; a.k.a. SAMAMA), Villa 
Saint Jean, 3 Ruelle Saint Jean, MC 98000, Monaco: The Director of OFAC 
has prohibited United States financial institutions from making loans 
or providing credits totaling more than $10,000,000 in any 12-month 
period to Soci[eacute]t[eacute] Anonyme Mon[eacute]gasque 
D'Administration Maritime Et A[eacute]rienne unless it is engaged in 
activities to relieve human suffering and the loans or credits are 
provided for such activities.
    6. Speedy Ship FZC (a.k.a. SEPAHAN OIL COMPANY; a.k.a. ``SPD''), 
Room 206, 2nd Floor, Building W5B, Dubai Airport Free Zone, P.O. Box 
54916, Dubai, United Arab Emirates: The Director of OFAC has: (a) 
Blocked all property and interests in property of Speedy Ship that are 
or come within the United States, or that are or come within the 
possession or control of any United States person, including any 
overseas branch, and provided that such property and interests in 
property may not be transferred, paid, exported, withdrawn, or 
otherwise dealt in; (b) prohibited any transactions in foreign exchange 
that are subject to the jurisdiction of the United States and in which 
Speedy Ship has any interest; and (c) prohibited any transfers of 
credit or payments between financial institutions or by, through, or to 
any financial institution, to the extent that such transfers or 
payments are subject to the jurisdiction of the United States and 
involve any interest of Speedy Ship.
    7. Tanker Pacific Management (Singapore) Pte Ltd, 1 Temasek Avenue, 
38-01 Millenia Tower, Singapore 039192: The Director of OFAC 
has prohibited United States financial institutions from making loans 
or providing credits totaling more than $10,000,000 in any 12-month 
period to Tanker Pacific Management (Singapore) Pte. Ltd. unless it is 
engaged in activities to relieve human suffering and the loans or 
credits are provided for such activities.
    The four persons listed above whose property and interests in 
property are blocked have been added to OFAC's List of Specially 
Designated Nationals and Blocked Persons with the identifying tag 
``ISA''.

    Dated: October 26, 2011.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
[FR Doc. 2011-29194 Filed 11-10-11; 8:45 am]
BILLING CODE 4810-AL-P