The Coral Oil Company Limited (“Coral”) categorically rejects the decision by the Israeli Ministry of Defence concerning sanctions against Coral, and wrongfully alleging that Coral supplied a small amount of fuel to Al-Amana after Al-Amana was sanctioned by OFAC in February 2020.
These allegations are entirely unfounded and incorrect. Consistent with Coral’s history of operating in compliance with international best practices and local laws, Coral will approach the relevant authorities and proceed with any appropriate legal procedures.
Coral is committed to continue to operate its business in full transparency and in compliance with applicable international sanctions and stands ready to provide any further documentation or clarification as appropriate.
Coral is investigating these wrongful allegations and intends to take all necessary measures and proceedings to protect its reputation and hold accountable anyone who makes, and/ or circulates these false, defamatory or misleading allegations and statements.
