WASHINGTON - The United States on Tuesday removed an Israeli holding company from asanctions blacklist for trade with Iran, clarifying a step taken in May that cast a shadow overIsrael's richest family.
Ofer Brothers Group had denied wrongdoing after it was included on a U.S. State Departmentsanctions list in May and accused of being part of a deal to sell Iranians a tanker for $8.65million.
The State Department issued a note on Tuesday removing the Ofer Brothers Group from thelist of sanctioned entities. It substituted two other firms indirectly owned by the Oferconglomerate, one a corporate manager and the other a ship-owning company.
"This action clears our name," Ofer Holdings Group said in a statement.
State Department spokeswoman Victoria Nuland said the U.S. clarification was aimed atidentifying more precisely those companies subject to U.S. sanction.
"The May 24 announcement of sanctions used the trade name 'Ofer Brothers Group,' which ledto the conclusion by some banks and companies that we had intended to sanction all Ofer-owned companies," Nuland said, saying the United States only sought to sanction the specificentities involved in the tanker transfer.
She said the two newly-named companies under sanction, Societe Anonyme Monegasqued'Administration Maritime et Aerienne (SAMAMA) and Allvale Maritime Inc., had both pledged toprevent potentially sanctionable transactions with Iran in the future.
"The new measures underscore that companies in the shipping industry must exerciseappropriate diligence to ensure they do not inadvertently engage in sanctionable activity withIran," Nuland said in a statement.
The billionaire Ofer brothers had long denied wrongdoing, saying they did not realize the buyerhad been a front for an Iranian company.
The Iranian company at the center of the allegations has also denied any involvement.
The May sanctions list included other companies such as PCCI, the Royal Oyster Group andSpeedy Ship of the United Arab Emirates, Tanker Pacific of Singapore and AssociatedShipbroking of Monaco.
The sanctions barred Ofer Brothers Group from securing financing from the Export-Import Bankof the United States, from obtaining loans over $10 million from U.S. financial institutions andfrom receiving U.S. export licenses.
The Ofers are Israel's richest family. They control Israel Corp, one of Israel's largest investmentcompanies. Brothers Sammy and Yuli Ofer have both died since the sanctions wereannounced.
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