The Treasury Department’s Office of Foreign Assets Control (OFAC) sanctioned 26 companies, individuals, and vessels associated with the Al-Qatirji Company, a Syrian conglomerate responsible for generating hundreds of millions of dollars in revenue for the Iranian Revolutionary Guards-Quds Force (IRGC-QF) and the Houthis through the sale of Iranian oil to Syria and the People’s Republic of China (PRC).
Al-Qatirji Company, which was previously targeted for its role in facilitating the sale of fuel between the Syrian regime and the Islamic State of Iraq and the Levant (ISIL), has become one of the main channels through which the IRGC-QF generates revenue and finances regional proxy groups. OFAC is expanding its efforts to target Al-Qatirji’s network and fleet of vessels to prevent the IRGC-QF from benefiting from this relationship.
Bradley T. Smith, Acting Under Secretary of the Treasury for Terrorism and Financial Intelligence, said: ‘Iran increasingly relies on key business partners like Al-Qatirji Company to fund its destabilising activities and its network of terrorist proxies in the region. Treasury will continue to take all available measures to restrict the Iranian regime’s ability to profit from illicit schemes that enable its dangerous regional agenda.’
Al-Qatirji Company controls the following vessels, which it uses to transport Iranian oil:
Guyana-flagged BARON (IMO: 9080493),
Iran-flagged ROMINA (IMO: 9114608),
Guyana-flagged CHLOE (IMO: 9173745),
Palau-flagged JOEL (IMO: 9198094),
Iran-flagged LOTUS (IMO: 9203784),
Panama-flagged REX 1 (IMO: 9219056),
Guyana-flagged RAMONA I (IMO: 9233222),
Barbados-flagged LELIA (IMO: 9258870),
Barbados-flagged ELINE (IMO: 9292486),
Panama-flagged CELINE (IMO: 9305609),
Guyana-flagged MIA (IMO: 9018464) and Guyana-flagged LIA (IMO: 9041057).
Al-Qatirji Company coordinated oil shipments worth tens of millions of dollars with IRGC-QF using BARON and the Iranian-flagged STAR 5 (IMO: 9150377).
REX 1 is managed, owned and operated by Lebanon-based Softwater Navigation Holding Ltd.
BARON is managed and operated by Pearl Shipping & Trading Ltd. based in Lebanon.
RAMONA I is owned by Panama based Elias Shipping & Trading Group SA.
Iran based Moshtaq Tejarat Sanat Co JSC is the registered owner of STAR 5.
Marshall Islands based Nativa Management Ltd is the owner and manager of LIA.
Iran-based Amitis Jazireh Kish Ship Management Co LLC is the ship manager of ROMINA.
Seychelles-based Veline Shiptrade Incorporated is the owner and operator of MIA.
Softwater Navigation Holding Ltd, Pearl Shipping & Trading Ltd, Elias Shipping & Trading Group SA, Moshtaq Tejarat Sanat Co JSC, Nativa Management Ltd, Amitis Jazireh Kish Ship Management Co LLC and Veline Shiptrade Incorporated are designated pursuant to E.O. 13224, as amended, for providing financial assistance, sponsorship or financial, material or technological support to Al-Qatirji Company or for providing goods or services to this company.
Al-Qatirji Company Leadership
Hussam Bin Ahmed Rushdi Al-Qatirji (Hussam Al-Qatirji) has become the leader of Al-Qatirji Company since the death of Mohammed Al-Qatirji in mid-2024. Al-Qatirji Company’s executives met directly with senior IRGC-QF officials and other financial backers, including the sanctioned IRGC-QF-backed Houthi financial official Sa’id al-Jamal. Hussam Al-Qatirji works with Mohammed Agha Ahmed Rashdi Qatirji on Al-Qatirji Company’s oil portfolio. Mohammed Al-Qatirji’s son Abbas Katerji also works for Al-Qatirji Company.
Hussam Al-Qatirji is appointed under E.O. 13224, as amended, for acting or purporting to act, directly or indirectly, for or on behalf of Al-Qatirji Company. Hussam Al-Qatirji was appointed under E.O. 13573 on 9 November 2020 for his role in mediating the Syrian regime’s oil trade with ISIS.
Muhammad Agha Ahmed Rashdi Qatirji and ‘Abbas Katerji are being appointed under E.O. 13224, as amended, for acting or purporting to act, directly or indirectly, for or on behalf of Al-Qatirji Company.
‘All property and interests in property of the above-named persons and entities, and entities in which these persons and entities directly or indirectly own 50 per cent or more, either alone or together with other blocked persons, located in the United States or in the possession or control of US persons, should be blocked and reported to OFAC,’ the statement said.
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