US Imposes Sanctions on Three Surinamese Companies Due to Alleged Trade Ties With Iran

PARAMARIBO, Suriname – The United States has imposed sanctions on three Surinamese companies because of their alleged trade links with companies in the Iranian oil sector.

Washington announced the sanctions against Strong Roots Provider, Glazing Future Management, and Engen Management after it imposed sanctions on companies operating in the Iranian oil sector following Iran’s attack on Israel on October 1 when approximately 180 missiles were fired at the Jewish state.

America has also  imposed sanctions on companies in India, Malaysia and Hong Kong that reportedly help facilitate the sale and transport of oil and oil products from Iran.

The US is imposing the sanctions under the spirit of the Stop Harboring Iranian Petroleum Act, which was passed as part of the Emergency Supplemental Appropriations for Fiscal Year 2024.

The law imposes sanctions on foreign individuals and companies involved in the trade in oil and petroleum products originating from Iran and was recently delegated by the President to the Departments of the Treasury and State.

Washington said that the three Surinamese companies operate as commercial managers of various companies that arrange the transport of Iranian oil.

Foreign Affairs, International Business and International Cooperation Minister, Albert Ramdin, said the Santokhi government is gathering information on the matter.

Ramdin said that the situation in the Middle East is a very complex problem and Paramaribo is in favour of a peaceful solution, calling for a ceasefire between the various parties “in order to realise a diplomatic process of peace”.

The authorities have already confirmed that Strong Roots Provider, Glazing Future Management, and Engen Management are registered in Suriname.

Ramdin said the government does not take a position on the sanctions imposed on Iran saying that this is a matter for the American government.

“It is a matter for the United States of America. If these sanctions affect certain companies in their operations, then these companies will have to seek justice in America and file their complaints there,”Ramdin added.

So far, the three affected companies have not approached the authorities here regarding the sanctions even as the government continues its investigation into their operations with media reports indicating that they are involved in maritime transport by means of “ships that do not sail to Suriname” and do business internationally.

“We want to know exactly what kind of goods are being shipped, to which countries they are going and where they are coming from. We do not have that information yet,” said Ramdin, adding that cooperation is being sought with the American authorities to gather as much information as possible about this matter.
US Secretary of the Treasury, Janet Yellen, last Friday said Washington “will not hesitate to take further measures to hold Iran accountable”.

The US National Security Advisor,  Jake Sullivan, said the new sanctions “will further deprive Iran of the financial resources it uses to support its missile programs and to support terrorist groups that threaten the United States, its allies, and partners”.