The U.S. Treasury Department yesterday said the United States is imposing additional sanctions on Iran’s nuclear and ballistic missile proliferation networks, and is also taking additional steps to prevent the evasion of sanctions by publicly identifying a group of Iranian front companies and banks.
“Iran today is under intense, multilateral sanctions pressure, and we will continue to ratchet up the pressure so long as Iran refuses to address the international community’s well-founded concerns about its nuclear program,” said Treasury Under Secretary for Terrorism and Financial Intelligence David S. Cohen. “Today’s actions are our next step on that path, taking direct aim at disrupting Iran’s nuclear and ballistic missile programs as well as its deceptive efforts to use front companies to sell and move its oil.”
Continuing the effort to target Iran’s nuclear and missile proliferation activities, the U.S. Departments of the Treasury and State are today designating 11 entities and four individuals under E.O. 13382. As described in more detail in the accompanying Fact Sheet, many of the individuals and entities designated are part of a network of proliferators headed by Iran’s Ministry of Defense for Armed Forces Logistics (MODAFL) and its subsidiary, Aerospace Industries Organization (AIO). A number of additional designations are related to Iran’s national maritime carrier, Islamic Republic of Iran Shipping Lines (IRISL), and Iran’s Islamic Revolutionary Guard Corps (IRGC), both of which have been the target of a numerous sanctions actions by the United States and our partners around the world.
The Treasury Department said it was active to prevent the circumvention of international sanctions on Iran – including sanctions on oil trade with Iran – by publicly exposing numerous Iranian front companies, ships and banks that are part of the Government of Iran. The specific entities identified in today’s action are described in the accompanying Fact Sheet.
Treasury is identifying these Government of Iran entities pursuant to E.O. 13599, which blocks all property and interests in property within U.S. jurisdiction of the Government of Iran and of all Iranian financial institutions, and prohibits U.S. persons or those within U.S. jurisdiction from having dealings with them. To assist U.S. persons in complying with their obligation to freeze the assets of, and not to deal with, any such entities, the Treasury Department from time to time identifies entities that are owned or controlled by, or acting for or on behalf of, the Government of Iran.
Today’s identifications include four front companies for the Naftiran Intertrade Company (NICO) or the National Iranian Oil Company (NIOC) -- Petro Suisse Intertrade Company SA; Hong Kong Intertrade Company; Noor Energy (Malaysia) Ltd.; and Petro Energy Intertrade Company. NICO intended to use Petro Energy Intertrade to evade western sanctions. The Treasury Department identified NICO and NIOC, both of which are centrally involved in the sale of Iranian oil, in 2008 as entities that are owned or controlled by the Government of Iran.
The Treasury Department is also identifying today the National Iranian Tanker Company (NITC) as a Government of Iran entity and, for the first time, the NITC fleet and various front companies belonging to NITC. In addition, the Treasury Department is also identifying 20 Iranian financial institutions for inclusion on its List of Specially Designated Nationals and Blocked Persons.
For full details on the companies and entities targeted, visit: