The U.S. on Wednesday imposed sanctions on three people and four firms — across Iran, the United Arab Emirates and Turkey — for allegedly helping to export goods and technology purchased from U.S. companies to Iran and the nation’s central bank.
Quick Read
- The U.S. imposed sanctions on three individuals and four companies from Iran, UAE, and Turkey for aiding in the export of U.S. goods and technology to Iran and its Central Bank, breaching export controls and sanctions.
- The Treasury’s Office of Foreign Assets Control identified the network’s role in transferring U.S. technology to Iran’s Central Bank, including items under national security and anti-terrorism controls.
- The sanctions target Informatics Services Corp., an Iranian Central Bank subsidiary involved in developing a digital currency platform, along with a UAE-based company and its CEO, and a Turkey-based affiliate firm, all implicated in acquiring U.S. tech for Iran.
- Treasury highlighted the Central Bank of Iran’s role in financing Iran’s Islamic Revolutionary Guard and Hezbollah, emphasizing efforts to destabilize the Middle East.
- Sanctions aim to disrupt Iranian regime’s procurement of sensitive U.S. technology, blocking the entities’ access to U.S. assets and prohibiting business with American entities.
The Associated Press has the story:
U.S. sanctions Iran Central Bank subsidiary for violating export rules
Newslooks- WASHINGTON (AP) —
The U.S. on Wednesday imposed sanctions on three people and four firms — across Iran, the United Arab Emirates and Turkey — for allegedly helping to export goods and technology purchased from U.S. companies to Iran and the nation’s central bank.
Treasury’s Office of Foreign Assets Control said the procurement network transferred U.S. technology for use by Iran’s Central Bank in violation of U.S. export restrictions and sanctions.
Some of the materials acquired by the Central Bank of Iran were items classified as “information security items subject to national security and anti-terrorism controls” by the Commerce Department, Treasury says.
Included in the sanctions package is Informatics Services Corp., an Iranian subsidiary of Iran’s Central Bank that most recently developed the Central Bank Digital Currency platform for the bank; a UAE-based front company, which acquired U.S. tech for the Central Bank of Iran and the front company’s CEO, as well as a Turkey-based affiliate firm that also made purchases that ended up in Iran.
“The Central Bank of Iran has played a critical role in providing financial support to” Iran’s Islamic Revolutionary Guard and militant group Hezbollah, said Treasury Under Secretary Brian E. Nelson, adding that they are the “two key actors intent on further destabilizing the Middle East.”
“The United States will continue to use all available means to disrupt the Iranian regime’s illicit attempts to procure sensitive U.S. technology and critical inputs,” he said.
The sanctions block access to U.S. property and bank accounts and prevent the targeted people and companies from doing business with Americans.
