Info:
National Iranian Oil Engineering and Construction Company, NIOEC, is responsible for the implementation of the Iran’s infrastructure projects in the field of petroleum refining, petroleum and products pipelines and depots as well as Iran’s joint venture overseas petroleum related projects. Since 2007, NIOEC has been entrusted with National Iranian Oil Refining and Distribution Company (NIORDC) Projects estimated at well over 15 billion Euros;
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is designating the National Iranian Oil Engineering and Construction Company (NIOEC) pursuant to E.O. 13224, as amended, for being owned, controlled, or directed by, or having acted or purported to act for or on behalf of, directly or indirectly, the Ministry of Petroleum;
The Iranian Ministry of Petroleum has been used by individuals at the highest levels of the Iranian regime to facilitate the IRGC-QF’s revenue generation scheme. In mid-2019, the Ministry of Petroleum arranged the loading of hundreds of thousands of barrels of oil for shipments to Syria, and in mid-2020 the IRGC-QF and senior regime officials coordinated to use the Ministry of Petroleum to procure U.S. dollars for the benefit of the IRGC-QF;
“The regime in Iran uses the petroleum sector to fund the destabilizing activities of the IRGC-QF,” said Secretary Steven T. Mnuchin. “The Iranian regime continues to prioritize its support for terrorist entities and its nuclear program over the needs of the Iranian people.”
Also Known As:
NIOEC
National Iranian Oil Engineering & Construction Company
Country:
Iran
Address:
No.263, Tehran, Ostad Nejatollahi Ave. Iran
Phone:
+98-21-88907472
Website:
www.nioec.org
E-Mail:
nioec.org
Person of interests:
Saeid Sattari Naeini – CEO
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 26, 2020 pursuant to Executive Order 13224, as amended, for being owned, controlled, or directed by, or having acted or purported to act for or on behalf of, directly or indirectly, the Ministry of Petroleum;
» Listed by the European Union on October 16, 2012 as an entity linked to Iran’s proliferation-sensitive nuclear activities or Iran’s development of nuclear weapon delivery systems;
» Removed from the E.U. list in January 2016 as part of the Joint Comprehensive Plan of Action;