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US Treasury Sanctions 10 Entities And Individuals In Relation To Iran

After Trump administration officials warned about a “flood” of new sanctions against Iran, the United States S Treasury Department sanctioned six entities and four individuals in relation to Iran.

The Treasury’s Office of Foreign Assets Control (OFAC) on Tuesday [November 10] sanctioned a network of companies and individuals in Iran, China, and Taiwan that facilitated the procurement of sensitive goods, including US-origin electronic components for Iran Communication Industries (ICI), an Iranian military firm sanctioned by the US and EU for being owned or controlled by Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL).

ICI, a subsidiary of Iran Electronics Industries, which falls under MODAFL, produces various items including military communication systems, avionics, information technology, electronic warfare, and missile launchers.

“The Iranian regime utilizes a global network of companies to advance its destabilizing military capabilities,” said Secretary Steven T. Mnuchin. “The United States will continue to take action against those who help to support the regime’s militarization and proliferation efforts.”

Artin San’at Tabaan Company and Hoda Trading are the Iran-based companies designated, and four companies in Taiwan and China have also been added to the list.

Among the individuals sanctioned, Mohammad Soltan Mohammadi and Mohammad Bani-Hashemi are Iranian and the other two are Taiwanese citizens.

As a result of these sanctions, all property and interests in property of these targets that are in the US or in the possession or control of US persons must be blocked and reported to OFAC. All dealings by US persons or within the US that involve any property or interests in property of blocked or designated persons are also prohibited.

In addition, persons that engage in certain transactions with the individuals and entities designated today may themselves be exposed to sanctions or subject to an enforcement action.

Recently US officials reported that the Trump administration will unleash a flood of new sanctions on Iran before January, when Joe Biden, the projected winner of the presidential election will be inaugurated. 

During his visit to Israel this week, US Special Envoy of Iran and Venezuela, Elliott Abrams told the reporters that “Trump administration’s goal is to slap as many sanctions as possible on Iran until January”.

“The regime is in a situation in which they really need these sanctions lifted. And if we demand changes in their conduct, I don’t think they have another option,” Abrams continued.

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