U.S. designates subsidiary of Central Bank of Iran
DAMASCUS, Syria (North Press) – The U.S. has imposed on Wednesday sanctions on a subsidiary of the Central Bank of Iran (CBI), a Turkish-based entity, and two entities based in the United Arab Emirates (UAE), as well as three individuals, for their involvement in the smuggling of U.S. technology to the Bank.
The U.S. Treasury Department said in a statement on Wednesday, “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 CBI has already been sanctioned by the Treasury Department for providing financial support for the Quds Force (QF), the backbone of Iran’s Islamic Revolutionary Guards Corps (IRGC).
Brian Nelson, Under Secretary of the Treasury for Terrorism and Financial Intelligence, said, “The Central Bank of Iran has played a critical role in providing financial support to the IRGC-QF and Hizballah, two key actors intent on further destabilizing the Middle East.”
The sanctions have targeted Iran-based Informatics Services Corporation (ISC), a subsidiary of the CBI and publically known “as the technology arm of CBI.”
The sanctions also included two UAE-based companies: Advance Banking Solution Trading DMCC (ABS), a front company for ISC, and UAE-based Freedom Star General Trading Co (L.L.C.). They also targeted a Turkey-based company: Ted Teknoloji Gelistirme Hizmetleri Sanayi Ticaret Anonim Sirketi (Ted).
The individuals targeted by the U.S. sanctions are CEO of ISC, Seyyed Abutaleb Najafi, the head of Freedom Star, Muhammad Reza Khademi, and ISC employee Borya Mirdamadi.