printable banner

U.S. Department of State - Great Seal

U.S. Department of State

Diplomacy in Action

Delisting Companies Sanctioned under the Iran Sanctions Act


Press Statement
Patrick Ventrell
Acting Deputy Spokesperson, Office of the Spokesperson
Washington, DC
April 12, 2013

Share

Today, the United States is lifting sanctions applied almost two years ago to Tanker Pacific Management (TPM), Société Anonyme Monégasque D’Administration Maritime Et Aérienne (SAMAMA), and Allvale Maritime Inc. (AMI), under the Iran Sanctions Act (ISA). All three companies have been engaged in extensive consultations with the State Department and have provided reliable assurances that they will not knowingly engage in such sanctionable activity in the future.

The three companies were sanctioned in May 2011 for their respective roles in a September 2010 transaction that provided a tanker valued at $8.65 million to the Islamic Republic of Iran Shipping Lines (IRISL), an entity that has been designated by the United States and the European Union for its role in supporting Iran's proliferation activities. Since sanctions were applied, these companies have taken significant steps to ensure that their operations are in compliance with U.S. sanctions law and policy, and have provided reliable assurances that they will not knowingly engage in such sanctionable activity in the future. As a result, the Secretary of State has decided to lift sanctions at this time.

Sanctions are essential to changing the Iranian regime’s calculus on its nuclear program and have had a powerful impact on Iran’s economy. By making significant changes to their operations and adjusting their behavior, TPM, SAMAMA, and AMI have demonstrated the success that sanctions can have at deterring irresponsible conduct.



PRN: 2013/0404

Sign-in

Do you already have an account on one of these sites? Click the logo to sign in and create your own customized State Department page. Want to learn more? Check out our FAQ!

OpenID is a service that allows you to sign in to many different websites using a single identity. Find out more about OpenID and how to get an OpenID-enabled account.