US puts sanctions on Central Bank of Iran subsidiary, others

"The Central Bank of Iran has played a critical role in providing financial support to the IRGC-QF and Hezbollah, two key actors intent on further destabilizing the Middle East," Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson said in the statement. As a result of the steps, all property of those sanctioned that is in the United States or falls under the control of U.S. persons is blocked.

The United States on Wednesday said it had imposed sanctions on a subsidiary of the Central Bank of Iran (CBI), along with two entities based in the United Arab Emirates, one in Turkey and on three individuals for smuggling U.S. technology to the CBI.

"These designations target three individuals and four entities tied to the procurement of sophisticated U.S. technology for use by CBI in violation of U.S. export restrictions and sanctions," the Treasury Department said. In a statement, the Treasury noted the CBI is itself already under sanction for providing financial support to Iran's Islamic Revolutionary Guard Corps's Quds Force (IRGC-QF), an elite arm which carries out overseas operations, and on Hezbollah, a powerful Iranian-backed armed and political force in Lebanon.

The sanctions represent Washington's latest efforts to punish Tehran, whose proxies in Iraq, Lebanon, Syria, Yemen and the Gaza Strip have attacked U.S. and Israeli targets. The Treasury named the entities as Iran-based Informatics Services Corporation (ISC), a subsidiary of CBI; UAE-based Advance Banking Solution Trading DMCC (ABS), an ISC front company; UAE-based Freedom Star General Trading Co (L.L.C.); and Turkey-based Ted Teknoloji Gelistirme Hizmetleri Sanayi Ticaret Anonim Sirketi (Ted).

It identified the three individuals as ISC Chief Executive Seyed Abotaleb Najafi; Freedom Star President Mohammad Reza Khademi; and ISC employee Pouria Mirdamadi, a dual French and Iranian national it said was involved in Ted's operations. "The Central Bank of Iran has played a critical role in providing financial support to the IRGC-QF and Hezbollah, two key actors intent on further destabilizing the Middle East," Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson said in the statement.

As a result of the steps, all property of those sanctioned that is in the United States or falls under the control of U.S. persons is blocked. In general U.S. regulations bar U.S. persons from transactions involving property of those sanctioned.

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