Morvarid Petrochemical

Morvarid has used the services of Triliance to broker the sale of tens of thousands of metric tons of petrochemicals, valued at tens of millions of dollars, to foreign buyers. Morvarid has used multiple Chinese companies to enable and hide the sale and purchase of Iranian petrochemical products

Country:

Iran  

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:
Iranian petrochemical firm Morvarid Petrochemical (Morvarid) hold a substantial presence in the Iranian petrochemicals market. Morvarid has used the services of Triliance to broker the sale of tens of thousands of metric tons of petrochemicals, valued at tens of millions of dollars, to foreign buyers;

Morvarid has used multiple Chinese companies to enable and hide the sale and purchase of Iranian petrochemical products;

Morvarid is being designated, pursuant to E.O. 13846, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Triliance. In January 2020, OFAC sanctioned Triliance and three other petrochemical and petroleum companies that collectively transferred the equivalent of hundreds of millions of dollars’ worth of exports from the National Iranian Oil Company (NIOC), which provides financial support or services to 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, and continues to use, various front companies to purchase, or facilitate the purchase and movement of, petrochemical products from Iran to foreign buyers, and some of the entities targeted today help facilitate Iran’s petrochemical and petroleum exports in contravention of U.S. economic sanctions;

Foreign financial institutions that knowingly facilitate significant transactions for, or persons that provide material or certain other support to, the Morvarid Petrochemical, risk exposure to sanctions that could sever their access to the U.S. financial system or block their property and interests in property under U.S. jurisdiction;

“The Iranian regime benefits from a global network of entities facilitating the Iranian petrochemical sector,” said Secretary Steven T. Mnuchin. “The United States remains committed to targeting any revenue source the Iranian regime uses to fund terrorist groups and oppress the Iranian people.”;

Shareholders:
1- Petro Farhang Company- 46.55 %
2- Taban Farda Petrochemical Group Company- 34 %
3- Tamin Oil & Gas & Petrochemical Investment Company- 17 %
4- Retirement Funds, Savings And Welfare Of The Oil Industry Staff- less than 1 %
5- Persian Oil & Gas Development Group Company- less than 1 %
6- Educational Industry Company- less than 1 %
7- Ahdaf Investment Company – less than 1 %

Also Known As:
Morvarid Petrochemical
Morvarid Petrochemical Company

Country:
Iran

Address:
No. 29, North Shahanaghi Alley, Sheikh Bahaie Shomali Street, Mollasadra Street, Tehran, Iran
PO Box 15855-516, Tehran, Iran

Website:
www.morvaridpc.ir

E-mail:
info@morvaridpc.ir

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 October 29, 2020 pursuant to Executive Order 13846, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Triliance;