Shiv Texchem Engages With OFAC For Sanctions Removal, Operations Remain Unaffected

Shiv Texchem Ltd has issued a statement addressing concerns regarding its inclusion on a sanctions list. The company emphasized that its operations remain unaffected and that it has no business dealings with Iran or any other sanctioned jurisdictions. To resolve the matter, Shiv Texchem has initiated discussions with the U.S. Office of Foreign Assets Control (OFAC) to secure removal from the sanctions list.  

Key highlights from the announcement include  

• Business operations of Shiv Texchem Ltd continue without disruption.  
• The company confirmed it has no commercial ties with Iran or any sanctioned territories.  
• Management has begun formal engagement with OFAC to address its listing and pursue removal.  
• The clarification aims to reassure stakeholders and investors about compliance with international regulations.  
• Industry observers note that proactive engagement with regulators reflects the company’s commitment to transparency and governance.  
• The company reiterated its focus on maintaining uninterrupted supply chains and customer commitments.  

The announcement underscores Shiv Texchem’s efforts to safeguard its reputation and reassure stakeholders of its compliance with global trade norms. By engaging directly with OFAC, the company seeks to resolve regulatory concerns while ensuring business continuity.  

Sources: Reuters, PTRS, Company Statement