Info:
In March 2020, Iranian company Zagros Petrochemical Company (Zagros) agreed to sell Triliance hundreds of thousands of metric tons of Iranian petrochemicals during the year 2020. Triliance used Petrotech FZE (Petrotech), a UAE-based entity, as a purchaser of the petrochemical products it purchased from Zagros. Triliance used Petrotech to hide its involvement in petrochemical deals, including directing other companies to bill to Petrotech rather than Triliance. Petrotech has purchased tens of thousands of tons of petrochemicals from Zagros on behalf of Triliance.
OFAC is also designating Dinrin Limited (Dinrin), a Chinese entity based in Hong Kong used by Zagros to hide its involvement in petrochemical sales to Triliance. Dinrin helped process millions of dollars in proceeds of Zagros’ sale of petroleum products to companies in Asia, including being the beneficiary of a multi-million dollar payment made for a shipment of a petroleum product that Zagros sold to Petrotech;
In January 2020, OFAC sanctioned Triliance and three other petrochemical and petroleum companies that have collectively transferred the equivalent of hundreds of millions of dollars’ worth of exports from the National Iranian Oil Company (NIOC), which helps to finance Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and its terrorist proxies. Iran’s petroleum and petrochemical industries are major sources of revenue for the Iranian regime and fund its malign activities throughout the Middle East. Triliance has used various front companies to purchase, or facilitate the purchase and movement of, petrochemical products from Iran, and the entities targeted today help facilitate Iran’s petrochemical and petroleum exports in contravention of U.S. economic sanctions;
Industry:
Oil Industry
Involved In:
Nuclear Weapon Program
Missile Weapon Program
Also Known As:
Petrotech FZE
Country:
United Arab Emirates
Address:
Office Number E, 16f 35, LOB P2 E, Hamriyah Free Zone, Sharjah, United Arab Emirates