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“IRAN VESSELS CARRYING WEAPONS OF MASS 
DESTRUCTION” >
FROM THE -
JOURNALS of Monte Friesner ~ Friday December 03, 2010 >
Financial Crime Consultant for WANTED SA >
WANTED SA has learned this morning that Weapons of Mass Destruction Proliferators Sanctions Regulations, 31 C.F.R. Part 544 - General License No.1
Specified transactions involving certain blocked property authorized.
- Except as specified below, effective December 3,2010, all transactions are authorized related to the arrest, detention, and judicial sale of the MV Sabalan (a.k.a. Iran Sabalan, IMO No. 9346524), the MV Sahand (a.k.a. Iran Sahand, IMO No. 9328900), and the MV Tuchal (a.k.a. Iran Tucha1, IMO No. 9346536), which were all identified as blocked property on September 10, 2008 (the "Vessels"), pursuant to Executive Order 13382 of June 28,2005 (70 FR 38567, July 1, 2005) ("E.O. 13382").
- Such transactions include, but are not limited to, bidding on the purchase of the vessels; paying deposits; providing financing, insurance, or funding in connection with the purchase; and, in furtherance of the arrest, detention, and judicial sale of the Vessels, providing vessel management services; providing port agency services; purchasing of bunkers; repairing or modifying the Vessels for commercial use; providing crewing; and hiring surveyors to inspect the vessels. This authorization expires at 11:59 p.m. eastern standard time, January 31, 2012.
(c) Except as authorized in paragraph (a), this general license does not authorize any provision of services, or any transfer of funds or other property, directly or indirectly, that would otherwise be prohibited by 31 C.F.R. Chapter V, including to any entity or individual whose property and interests in property are blocked pursuant to any Executive order, statute, or 31
C.F.R. Chapter V.
(d) Unless otherwise authorized by the Office of Foreign Assets Control ("OFAC"), all property and interests in property related to the Vesse1s that were previously blocked pursuant to
E.O. 13382 and/or the Weapons of Mass Destruction Proliferators Sanctions Regulations (the "WMDPSR"), 31 C.F.R. Part 544, remain blocked.
Note to General License No.1: If the Vessels are sold pursuant to judicial sale, the purchaser of the Vessels may provide OFAC with conclusive evidence demonstrating that the basis for the blocking is no longer applicable in order to expedite the removal of the Vesse1s from OFAC's Specially Designated Nationals and Blocked Persons List ("SDN List"). Please see § 544.403 of the WMDPSR regarding licensed transfers of property away from persons whose property and interests in property are blocked, and 31 C.F.R. § 501.807 for procedures governing removal of names from OFAC's SDN List.
WANTED SA thanks to all the staff at OFAC and all the Parties, Press, Journalists, Law Enforcement and Securities forces who have contributed to this article and their sincere opinions and statements.
WANTED SA states that the facts and opinions stated in this article are those of the author and not those of WANTED SA. We do not warrant the accuracy of any of the facts and opinions stated in this article nor do we endorse them or accept any form of responsibility for the articles.
