US sanctions Chinese entities for deals with Islamic Republic of Iran Shipping Lines

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US sanctions Chinese entities for deals with Islamic Republic of Iran Shipping Lines

Boladale George   |   

The United States has placed eight Chinese companies and hong-kong entities on its sanctions list over dealings with the Islamic Republic of Iran Shipping Lines (IRISL)

The six companies involved are Reach Holding Group (Shanghai), Reach Shipping Lines, Delight Shipping, Gracious Shipping, Noble Shipping and Supreme Shipping. The sanction also affected two individuals – Eric Chen, CEO of Reach Holding Group and Daniel He, president of Reach Holding Group.

Shanghai-based NVOCC Reach Group set up a joint venture with IRISL in 2017 with four14,508 teu ships, to facilitate trade and logistics services between China and Iran. The ships in question are Canreach, Goodreach, Tenreach and Fanreach.

One of the ships was sold, according to VesselsValue data, to an affiliate of IRISL, while the buyers of the other three vessels were not disclosed.

In September, the US similarly blacklisted 11 companies for facilitating petrochemical shipments with Iran.

This latest announcement of 19th October, 2020 was made by the 70th U.S. Secretary of State Dept, Secretary Pompeo
@SecPompeo via its US government account saying

‘we are sanctioning mainland-China and Hong Kong entities and individuals for conduct related to the sanctioned proliferator the Islamic Republic of Iran Shipping Lines. Our warning is clear: If you do business with #IRISL or its subsidiaries, you risk U.S. sanctions’.

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