Vietnam

3rd Floor, Viet Tower Building, 1, Thai Ha Street, Trung Liet Ward, Dong Da District, Hanoi, Vietnam

IMO 6169710, Identification Number; 0109132188, Business Registration Number

Sao Viet Petrol Transportation Company Limited (Sao Viet) is the beneficial owner of the Vietnam-flagged crude oil tanker Panda (IMO 9284582), which has made a port call in a Russian port where oil has consistently traded well above the $60 price cap. Sao Viet also owns the Vietnam-flagged crude oil tankers Ivy (IMO 9337133) and Leopard (IMO 9284594), the Vietnam-flagged chemical tanker Astra (IMO 9273387), and the Panama-flagged liquefied petroleum gas carrier Owens (IMO 9223540). The Panda, Ivy, and Leopard are considered to be part of the shadow fleet, and the Panda, Ivy, Leopard, and Owens have also shipped Iranian oil. Sao Viet is being designated pursuant to E.O. 14024 for operating or having operated in the energy sector of the Russian Federation economy and pursuant to E.O. 13662 for operating in the energy sector of the Russian Federation economy. The Panda, Ivy, Leopard, Astra, and Owens are being identified pursuant to E.O. 14024 and E.O. 13662 as property in which Sao Viet has an interest.

https://home.treasury.gov/news/press-releases/jy2777

2025-01-10

US

Executive Order 14024 of April 15, 2021 Blocking Property With Respect To Specified Harmful Foreign Activities of the Government of the Russian Federation

OFAC country specific

Russia

Blocking Property, Suspending Entry, Trade sanctions

• https://ofac.treasury.gov/faqs/1127 • https://ofac.treasury.gov/faqs/1029

In response to the Russian Federation’s continued use of its military-industrial base to support its aggression against Ukraine, the President has issued an Executive Order (E.O.) amending E.O. 14024 that provides the Office of Foreign Assets Control (OFAC) with new authorities to target foreign financial institutions for engaging in certain transactions. Foreign financial institutions that conduct or facilitate significant transactions or provide any service involving Russia’s military-industrial base run the risk of being sanctioned by OFAC. The United States and partners have put in place a sanctions and export controls regime that has severely restricted Russia’s ability to import many of the items that directly support its brutal and unjustified war against Ukraine. As a result, Russia is increasingly using third countries to evade sanctions and continue its procurement of certain critical items. The United States and partners have published multiple advisories, including detailed red flags, to warn the private sector about Russian sanctions evasion in support of its war machine and to support compliance efforts. OFAC’s new targeting authorities, which are aimed at foreign financial institutions that provide services to, or engage in significant transactions relating to, Russia’s military-industrial base, come as a natural evolution of OFAC’s work to counter evasion and hold accountable those perpetuating Russia’s war against Ukraine, including financial facilitators. OFAC is issuing this advisory to provide guidance to foreign financial institutions on the amendments to E.O. 14024, including practical guidance on how to identify sanctions risks and implement corresponding controls. For additional guidance on this E.O., please see FAQs 1146–1157.

SDN / NS-MBS / CAPTA