ZIM cargo ship 311.
(photo credit: Courtesy)
US Secretary of State Hillary Clinton has announced sanctions on seven
international companies due to their unsavory ties to Iran’s energy sector, and
one of those companies is based in Israel.
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The Ofer Brothers Group, a
familyowned business that owns Zim Integrated Shipping Services, the world’s
10th largest shipping company; a majority of the Israel Corporation, the
country’s largest holding company; and more, has been slapped with penalties for
allegedly providing an $8.65 million tanker to the Islamic Republic of Iran
Shipping Lines, according to the US Department of State.
We believe that
Tanker Pacific and Ofer Brothers Group failed to exercise due diligence and did
not heed publicly available and easily obtainable information that would have
indicated that they were dealing with IRISL,” the State Department said in a
Ofer Brothers Group denied it had ever sold ships to the
“We have never sold ships to Iran,” it said in a
The Ofer Brothers Group also has holdings in Israel Chemicals,
Oil Refineries Ltd. and Bank Mizrahi.
The sanctioned companies include
PCCI (Jersey/Iran), Royal Oyster Group (UAE), Speedy Ship (UAE/Iran), Tanker
Pacific (Singapore), Associated Shipbroking (Monaco) and Petróleos de
The State Department was clear in its goal for imposing
penalties on the companies under the Iran Sanctions Act of 1996: “By imposing
these sanctions, the secretary sends a stern and clear message to companies
around the world: Those who continue to irresponsibly support Iran’s energy
sector and help facilitate Iran’s efforts to evade US sanctions will face