Sri Lanka, Oct. 12 -- Laugfs Gas PLC said neither the operations nor the financial position of it or its subsidiaries have been affected by the recent developments on its Dubai entity Slogal Energy DMCC, which has been named by the United States Department of the Treasury's Office of Foreign Assets Control (OFAC) for trading in Iranian petrochemicals.

Slogal Energy has never knowingly engaged in or facilitated any trade involving sanctioned entities or products of sanctioned origin.

All its commercial operations are conducted in accordance with international trading practices and supported by Certificates of Origin and comprehensive Know Your Customer (KYC) documentation verifying legitimate sources of supply. The Board has taken steps ...