ECONOMYNEXT – Sri Lanka’s Laugfs Gas said it was halting operations of a unit in Dubai pending a compliance review, and it did not knowingly trade in sanctioned products, after it was listed by the US for trading in Iran petrochemicals. The US Treasury’s Office of Foreign Asset Control, designated Slogal Energy DMCC, for allegedly buying and selling Iranian origin gas to Sri Lanka and Bangladesh. “SLOGAL Energy DMCC has never knowingly engaged in, or facilitated, any trade involving sanctioned entities or products of sanctioned origin,” publicly listed Laugfs Gas said in a stock exchange filing. “All its commercial transactions…
Sri Lanka’s Laugfs halts Dubai unit, to appeal Iran sanctions listing by US
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