Info:
Elfo Energy has been used by Triliance to help settle, process, and transfer millions of dollars in proceeds from petrochemical product sales;
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 Elfo Energy, 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.”;
Also Known As:
Elfo Energy Holding Limited
Country:
China
Address:
Hong Kong, China
Registration Number:
2917743 (Hong Kong)