U.S. TREASURY SANCTIONS THAI FIRM WITH LINKS TO IRAN’S MAHAN AIR
October 24, 2018
On September 14, 2018, the U.S. Treasury Department’s Office of Foreign Assets Control announced new sanctions targeting Bangkok-based firm, My Aviation Company Ltd. The aviation firm is accused of acting as General Services Agent (GSA) in Thailand for Mahan Air.
GSAs, by definition, are third-party entities that “provide services to an airline under the airline’s own brand, including sales and marketing, freight handling and airport warehouse and ramp supervision.” In this case, not only did this Bangkok-based company provide cargo services to Mahan Air, but it is also alleged to have worked with local freight forwarding entities to ship cargo aboard regularly scheduled Mahan Air flights to Tehran, Iran. By imposing sanctions on GSA entities such as My Aviation Company Ltd., service providers will “finally have to decide whether the profits generated by transacting with Mahan are worth the risk of American sanctions.”
If you have any questions, please contact Evelyn Sahr (esahr@eckertseamans.com or 202-659-6622); Drew Derco (dderco@eckertseamans.com or 202-659-6665), or Alexander Matthews (amatthews@eckertseamans.com or 202-659-6633).
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