US to impose sanctions on vessels associated with Syrian firm

In a press release, OFAC stated that the sanctioned parties are related to the Al-Qatirji Company, a Syrian conglomerate responsible for generating millions of dollars in revenue for Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and the Houthis.

Previously designated for its role in facilitating the sale of fuel between the Syrian regime and the Islamic State of Iraq and Syria (ISIS), the Al-Qatirji Company has morphed into one of the main channels through which the IRGC-QF generates revenue and funds its regional proxy groups.

In addition, OFAC is expanding its targeting of Al-Qatirji’s network and its fleet of vessels to inhibit the IRGC-QF from benefiting from this relationship. 

“Iran is increasingly relying on key business partners like the Al-Qatirji Company to fund its destabilizing activities and web of terrorist proxies across the region,” said Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence Bradley T. Smith.

Treasury will continue to take all available measures to restrict the Iranian regime’s ability to profit from the illicit schemes that enable its dangerous regional agenda.

…said Bradley T. Smith.

Furthermore, the action is being taken pursuant to counterterrorism authority Executive Order (E.O.) 13224, as amended.

OFAC designated the IRGC-QF pursuant to E.O. 13224 on October 25, 2007, for providing material support to multiple terrorist groups.

The Al-Qatirji Company was designated pursuant to E.O. 13582 on September 6, 2018 for its ties to the Government of Syria.

The U.S. Department of State designated Ansarallah, also known as the Houthis, as a Specially Designated Global Terrorist (SDGT) pursuant to E.O. 13224, as amended, effective February 16, 2024, for having committed or attempted to commit, posing a significant risk of committing, or having participated in training to commit acts of terrorism.