Laugfs Dubai unit named by US Treasury for trading Iran gas

Sri Lanka
By Editor_1
The US Department of the Treasury building in Washington. Office of Foreign Assets Control of the US Department of the Treasury has designated Slogal Energy DMCC, a subsidiary of Sri Lanka’s Laugfs Holdings, for allegedly facilitating the sale and shipment of Iranian liquefied petroleum gas (LPG) to Sri Lanka and Bangladesh in violation of US sanctions - Jose Luis Magana/AP/File

COLOMBO –The US Treasury has designated Slogal Energy DMCC, a subsidiary of Sri Lanka’s Laugfs Holdings, for allegedly facilitating the sale and shipment of Iranian liquefied petroleum gas (LPG) to Sri Lanka and Bangladesh in violation of US sanctions.

The Office of Foreign Assets Control (OFAC) of the US Department of the Treasury said in a statement that United Arab Emirates-based Markan White Trading Crude Oil Abroad Co. L.L.C (Markan White) and Slogal Energy DMCC “play a key role in enabling the sale and shipment of Iranian LPG to Sri Lanka”.

According to the Treasury, Iranian petrochemicals were procured from Iran-based petrochemical broker Persian Gulf Petrochemical Industry Commercial Co. (PGPICC) by Dubai-based intermediaries.
“In late 2024, PGPICC and Markan White used Slogal to help facilitate the sale, shipment, and export of millions of dollars’ worth of Iranian LPG to Sri Lanka,” the statement said.

OFAC further revealed that Slogal continued purchasing Iranian LPG through 2024 and 2025, with multiple shipments reaching end-users in Sri Lanka and Bangladesh.

In 2024, the Palau-flagged vessel MAX STAR (IMO 9134165) delivered Iranian LPG purchased by Slogal to Sri Lanka. In 2025, the Panama-flagged GAS DIOR (IMO 9379404) similarly delivered cargoes of Iranian LPG for Slogal to Sri Lanka.

OFAC also noted that in early 2025, GAS DIOR transported over 17,000 metric tonnes of Iranian LPG to Bangladesh, this time on behalf of another sanctioned supplier, Octane Energy FZCO.

Slogal Energy DMCC was among several entities from the UAE and China designated “pursuant to Executive Order 13902 for operating in the petroleum sector of the Iranian economy.” Several individuals, including Indian nationals, were also added to the list of blocked persons.

“As a result of today’s action, all property and interests in property of the designated or blocked persons described above that are in the United States or in the possession or control of US persons are blocked and must be reported to OFAC,” the US Treasury said.

It added that any entity owning 50% or more, directly or indirectly, by one or more blocked persons would also be automatically blocked.

The Treasury warned that, unless authorized by an OFAC license, U.S. regulations “generally prohibit all transactions by U.S. persons or within the United States that involve any property or interests in property of blocked persons.”

OFAC emphasized that violations of U.S. sanctions could result in civil or criminal penalties for both U.S. and foreign individuals or companies.
The agency may impose civil penalties on a strict liability basis, meaning intent does not need to be proven.

Furthermore, OFAC cautioned that financial institutions and other entities risk exposure to secondary sanctions if they continue to engage in transactions involving designated or blocked parties.

“The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated or blocked person, or the receipt of any contribution or provision of funds, goods, or services from any such person,” the statement concluded.

Laugfs Holdings or Slogal Energy DMCC have not yet issued a public response.

-ENCL

Editor_1
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