The Office of Foreign Assets Control (OFAC) announced yesterday that the U.S. State Department of State, pursuant to the Iran Sanctions Act (ISA) as amended by the Comprehensive Iran Sanctions Accountability and Divestment Act of 2010 (CISADA) is imposing sanctions on three third country entities in response to ISA violations.  Specifically these are:

• Fal Oil Company (Sharjah, UAE)
• Kuo Oil (Singapore)
• Zhuhai Zhenrong (China)

These entities may not receive loans or credits of over $10 million from US financial institutions over a 12-month period. As OFAC points out in its release, this does not render the entities Specially Designated Nationals (SDNs).