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US sanctions Mahan Air's Chinese cargo GSA
12.02.2021 - 07:07 UTCThe United States Department of the Treasury's Office of Foreign Assets Control (OFAC) has added Shanghai Saint Logistics Limited to its list of companies sanctioned for its commercial ties to Iran's Mahan Air (W5, Tehran Mehrabad).
The Chinese firm is Mahan Air's cargo general sales agent (GSA) in the country.
China is an important market for Mahan Air. According to the ch-aviation capacities module, it is the second-largest foreign market for the airline with a 4.1% share of its scheduled capacity, second only to Turkey. On a scheduled basis, Mahan Air connects Tehran Imam Khomeini with Beijing Capital, Shanghai Pudong, Shenzhen, and Guangzhou.
Mahan Air itself has been sanctioned by OFAC since 2011 for its alleged ties to the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF). Although the carrier is said to be privately-owned, the US alleges that it provides extensive support to the Iranian government and its proxy militias, including transporting them to other countries where Iran undertakes military operations. Since 2011, OFAC has issued 13 notices sanctioning various...
Iranian banks expand fleet procurement funding
04.05.2020 - 10:32 UTC
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