Trust Company Complex, Ajeltake Island, Majuro, 96960, Marshall Islands
Reg. ID
113880, Registration Number
Official reason
Hermex International Corporation
These companies have collectively moved hundreds of millions for dollars’ worth of revenue for MODAFL related to oil and petrochemical sales or foreign currency exchange operations. Between June 2022 and 2023, MODAFL used Atvantic Wholesalers L.L.C., Brighten Star FZE, and Gainon Co., Limited to make transfers worth nearly $10 million through Ansar Exchange. In September 2023, Meishur Limited transferred approximately $30 million to U.S.-designated Sepehr Energy Jahan Nama Pars Company, a key entity overseeing the foreign sale of oil on behalf of Iran’s AFGS.
Between May and October 2023, Meishur Limited, Turpami Limited, and Xaster Co., Limited transferred approximately $40 million collectively to Sahara Thunder on behalf of MODAFL. In October 2023, Caregis Trading HK Limited and Lzmar Trading Limited received $8 million and $15 million each from Sahara Thunder.
Kuwan Co., Limited has used the international financial system to make hundreds of transfers totaling over $30 million to numerous companies, including U.S.-designated unmanned aerial vehicle (UAV) parts suppliers Skyline Advanced Technologies SDN BHDand Nava Hobbies SDN BHD and transfers totaling approximately $500,000 to U.S.-designated Iranian military procurement front company FY International Trading Co., Limited. In January 2022, Cherry Star Co. Limited transferred approximately 15 million euro to the IRGC Oil Command on behalf of MODAFL.
The above entities are all being designated pursuant to E.O. 13224, as amended, for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, MODAFL.
On August 16, 2010, OFAC issued the Iranian Financial Sanctions Regulations, 31 CFR part 561 (75 FR 49836, August 16, 2010) (IFSR) to implement provisions of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (Pub. L. 111–195) (22 U.S.C. 8501–8551). Since then, OFAC has amended the IFSR several times.
