Info:
Since 2021, Hong Kong-based Hong Kong Aeonian Complex Co., Limited (Hong Kong Aeonian) has purchased thousands of metric tons of petrochemicals worth millions of dollars from PGPICC. Hong Kong Aeonian paid PGPICC via front companies, such as Hong Kong-based Torgan Co., Limited (Torgan), to obscure PGPICC’s role in these transactions. Since early 2022, Torgan has received payments on behalf of PGPICC for its petrochemicals sales to foreign customers;
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action against Iran’s largest and most profitable petrochemical holding group, Persian Gulf Petrochemical Industries Company (PGPIC), for providing financial support to Khatam al-Anbiya Construction Headquarters (Khatam al-Anbiya), the engineering conglomerate of the Islamic Revolutionary Guard Corps (IRGC);
On November 17, 2022, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned 13 companies in multiple jurisdictions facilitating the sale of hundreds of millions of dollars’ worth of Iranian petrochemicals and petroleum products to buyers in East Asia on behalf of sanctioned Iranian petrochemical brokers Persian Gulf Petrochemical Industry Commercial Co. (PGPICC) and Triliance Petrochemical Co. Ltd. (Triliance), as well as the National Iranian Oil Company (NIOC) and its marketing arm, Naftiran Intertrade Company Ltd. (NICO).
Industry:
Oil Industry
Also Known As:
Torgan Co., Limited
Organization Established Date:
27 Dec 2019
Country:
China
Address:
Room 09, 27 F, Ho King Commercial Centre, 2 16 Fa Yuen Street, Mongkok, Kowloon, Hong Kong, China
C.R. No.:
2905960 (Hong Kong)