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Singaporean shipbroking firm added to Washington’s blacklist over ties to Iran

The Office of Foreign Assets Control (OFAC) of the US Treasury Department has blacklisted an Indian national and the Singaporean shipbroking firm he runs in the latest swathe of Iranian-linked sanctions announced yesterday.

Captain Murtuza Basrai, who runs Strait Shipbrokers in the Southeast Asian republic, finds himself among a host of Iranians and Chinese sanctioned by Washington DC.

“The Iranian regime benefits from a global network of entities facilitating the Iranian petrochemical sector,” tyreasury secretary Steven Mnuchin said yesterday, adding: “The United States remains committed to targeting any revenue source the Iranian regime uses to fund terrorist groups and oppress the Iranian people.”

Strait Shipbrokers was founded 15 years ago primarily focusing on tanker chartering. Basrai, who worked at Executive Ship Management and served at sea prior to entering broking, serves as the company’s managing director.

On Monday, the US Treasury Department also imposed sanctions against the Iranian oil sector including the oil ministry, oil minister, and the National Iranian Tanker Company (NITC).

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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