Salita Trade Limited

ifmat-blackcompanies

Salita Trade Limited transferred tens of millions of dollars related to petrochemical sales from Iran to China

Country:

China  

Status:Top Alert – Entity designated / sanctioned for terror, WMD and human rights violation

Risk Level:99%

May harm your business future. Persons or entities that engage in transactions with this entity will be exposed to sanctions or subject to an enforcement action.

Working with this entity means supporting Iranian Regime, Regime Terrorist Activities & development of WMD

Info:
A significant number of front companies operate out of Hong Kong, from where they receive the proceeds of petrochemical sales.

Between 2021 and 2022, Hong Kong front company Salita Trade Limited transferred tens of millions of dollars related to petrochemical sales from Iran to China.

PGPICC has used entities like Salita Trade Limited to disguise its role in enabling Iranian petrochemical sales.

Salita Trade Limited serves as a vital trustee during the transfer of payments between PGPICC front companies and the buyers of their petrochemicals;

A vast network of front companies operating in Hong Kong, Singapore, and the UAE, run by foreign exchange houses in Iran and the UAE, enable PGPICC to orchestrate the sale of billions of dollars’ worth of petrochemicals from Iran-based companies.

PGPICC was designated pursuant to E.O. 13382, a WMD authority, on July 7, 2019, for being owned or controlled by PGPIC, which itself was designated pursuant to E.O. 13382 for having provided financial support to Khatam al-Anbiya, the engineering conglomerate of Iran’s Islamic Revolutionary Guard Corps (IRGC).

Iranian entities, such as Persian Gulf Petrochemical Industry Commercial Co. (PGPICC) and Triliance Petrochemical Co. Ltd. (Triliance), access to the international financial system and obfuscate their trade with foreign customers. Iranian exchange houses create front companies abroad to enable trade on behalf of their Iranian clients, with foreign currency transactions maintained via internal ledgers. PGPICC is the marketing arm of sanctioned Iranian petrochemical conglomerate Persian Gulf Petrochemical Industries Company (PGPIC), which generates the equivalent of tens of billions of dollars annually for the Iranian regime.

Triliance was designated pursuant to E.O. 13846 on January 23, 2020, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services in support of, the National Iranian Oil Company (NIOC), by facilitating the sale of Iranian petroleum products from NIOC.

Also Known As:
SAIQI TRADE LIMITED

Organization Established Date:
02 Aug 2018

Country:
China

Address:
Room 09/27F Ho King Commercial Centre 2-16 Fa Yuen Street Mongkok Kl, Hong Kong, China

C.R. No.:
2729339 (Hong Kong)

Reason for the color:
» Added to the Specially Designated Nationals (SDN) list maintained by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) on March 9, 2023 pursuant to E.O. 13846 for, on or after November 5, 2018, having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, PGPICC;