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Corporate structures established for the fleet over the past decade helped sidestep US sanctions


A fleet of ageing liquefied petroleum gas carriers used to ship hundreds of millions of dollars-worth of propane and butane from Iran has been tracked to a complex network of companies controlled on paper by the part-owner of a Georgian restaurant in south London.


A Lloyd’s List investigation has uncovered how corporate structures established for the fleet over the past decade helped sidestep US sanctions on Iran’s oil and petrochemical shipping sector. The paper trail also yields a rare glimpse into those behind the web of brass plate companies created to obfuscate the controlling interests of ships that routinely deployed deceptive shipping practices to carry sanctioned Iranian cargoes.


The investigation was sparked by an explosion on board a 51-year-old LPG tanker on August 10, the Panama-flagged White Purl (IMO: 7230666).


For the full post, click here: Link Posted on November 23, 2023

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