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On 19 March 2020, the US Treasury Department’s Office of Foreign Assets Control (OFACsanctioned five companies based in the United Arab Emirates (UAE), pursuant to Executive Order 13846 (EO 13846), for their alleged involvement in purchasing hundreds of thousands of metric tons of petroleum products from the National Iranian Oil Company (NIOC) for delivery to the UAE. The following UAE-based companies were added to the US Specially Designated Nationals and Blocked Persons List (SDN List): (1) Alam Althrwa General Trading LLC, (2) Alphabet International DMCC, (3) Alwaneo LLC CO, (4) Petro Grand FZE, and (5) Swissol Trade DMCC (together the Sanctioned Companies).

For more information and to view the full article, please visit our Baker McKenzie Sanctions Blog.

Should you have any concerns with regards to your global sanctions and anti-money laundering obligations and risks, please do not hesitate to contact our team.

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