On July 19, 2012, the Office of Foreign Assets Control
("OFAC") issued an advisory stating that Iran Islamic
Republic of Iran Shipping Lines ("IRISL") is currently
operating unregistered vessels. OFAC advises all persons in the
maritime industry that any assistance provided to IRISL in
connection with the re-flagging of its vessels may constitute a
provision of services in violation of U.S. sanctions. Such a
violation may result in the assisting person being added to
OFAC's Specially Designated Nationals ("SDN") list
for having assisted another designated person or entity.
Background
On June 9, 2010, enhanced U.N. sanctions were adopted by the
U.N. Security Council, which froze the assets of various designated
persons, including certain entities deemed to be owned, controlled
by, or acting on behalf of IRISL. Due to these international
sanctions, many of IRISL's vessels have either had their flags
revoked or registration rejected by vessel registries. OFAC
