Ofer Escapes US Sanctions Over Tanker Sale To Iran

Law360, New York (September 13, 2011, 5:35 PM EDT) -- The U.S. Department of State on Tuesday said it is lifting sanctions on Israeli holding company Ofer Brothers Group, which had been accused of being a part of a deal to sell an $8.65 million oil tanker to Iran.

The surprise move lifts penalties on Ofer, but imposed sanctions on two Ofer subsidiaries that were allegedly involved in the sale of the “Raffles Park” oil tanker to an Iranian company accused by the U.S. and the European Union of supporting Iran’s nuclear activities, according to the...
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