US government blacklists two South African companies for trading oil with Iran | Fin24
In partnership with
  • Covid-19 Money Hub

    The hub will help answer your business and money questions during the coronavirus crisis.

  • Dudu Myeni

    The former SAA chair has been declared a delinquent director for her role at the national airline.

  • Cigarette Ban

    Govt says emerging research shows smoking leads to more severe cases of Covid-19.


US government blacklists two South African companies for trading oil with Iran

Mar 19 2020 11:14

The US government has imposed sanctions against two South African registered companies for trading in oil from Iran.

Last year, US President Donald Trump intensified sanctions on Iran’s oil exports after withdrawing his country from the 2015 Iran nuclear deal with six world powers.

Late on Wednesday, the US state department announced that it will impose sanctions on a South African registered company SPI International Proprietary and its only active director Hossein Tavakkoli for violating these sanction. The company is registered in Tshwane, but the 52-year old Tavakkoli is an Iranian citizen.

The US government also sanctioned the South African registered company Main Street 1095, and an Iranian entity called the Armed Forces Social Security Investment Company, which both had links to SPI International.

Another Iranian national Reza Semnani, the only active director of Main Street 1095, has also been sanctioned. Main Street 1095 and SPI are registered at the same address in Tshwane.

The US government also issued sanctions against two Chinese companies for trading in Iranian oil.

donald trump  |  sa  |  us  |  iran  |  oil


Company Snapshot

Voting Booth

How has Covid-19 impacted your financial position?

Previous results · Suggest a vote