LAUGFS suspends Dubai operations, to appeal US sanctions listing

Tuesday, 14 October 2025 02:45 - - {{hitsCtrl.values.hits}}

Says committed to integrity, transparency, and adherence to international regulatory frameworks
Asserts never knowingly engaged in, or facilitated, any trade involving sanctioned entities

LAUGFS Gas PLC yesterday said it has suspended operations of its Dubai-based subsidiary Slogal Energy DMCC pending a compliance review after the company was named by the US Treasury for allegedly trading in Iranian-origin petrochemical products.

“LAUGFS Gas reaffirms its unwavering commitment to integrity, transparency, and adherence to international regulatory frameworks,” the company said in a statement.

The US Office of Foreign Assets Control (OFAC) last week designated Slogal Energy DMCC, accusing it of purchasing and selling Iranian Liquefied Petroleum Gas (LPG) shipments to Sri Lanka and Bangladesh.

LAUGFS Gas said: “Slogal Energy has never knowingly engaged in, or facilitated, any trade involving sanctioned entities or products of sanctioned origin.” The company said all transactions had been carried out in line with international trade practices and were backed by certificates of origin and Know Your Customer (KYC) documentation verifying legitimate supply sources.

LAUGFS said all commercial operations of Slogal Energy have been halted and that a legal and compliance review is underway with assistance from US sanctions counsel. The company plans to petition for the delisting of Slogal Energy DMCC from the US Treasury’s Specially Designated Nationals (SDN) list under Executive Order 13902.

LAUGFS confirmed that its domestic liquefied petroleum gas distribution business in Sri Lanka remains unaffected by the development.