Articles Tagged with #Iranprocurement

The U.S. Department of the Treasury Office of Foreign Assets Control (OFAC) targeted two Iranian regime-linked networks for engaging in covert procurement activities benefitting multiple Iranian military organizations.  One network, led by Hamed Dehghan, has used a confidential Hong Kong-based front company to evade U.S. and international sanctions and facilitate tens of millions of dollars’ worth of proliferation activities targeting U.S. technology and electronic components, for persons related to the Islamic Revolutionary Guard Corps (IRGC) and the Iranian regime’s missile program.  The second network, led by Seyed Hossein Shariat, has procured various aluminum alloy products on behalf of components entities owned or controlled by Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL).

As a result of today’s action, all property and interests in property of these individuals that are in the United States or in the possession or control of U.S. persons must be blocked and reported to OFAC.  OFAC’s regulations generally prohibit all dealings by U.S. persons or within (or transiting) the United States that involve any property or interests in property of blocked or designated persons. In addition, persons that engage in certain transactions with the persons designated today may themselves be exposed to designation.  Furthermore, any foreign financial institution that knowingly facilitates a significant transaction or provides significant financial services for any of the individuals designated today could be subject to U.S. correspondent account or payable-through sanctions.

“As the Iranian regime attempts to use complex schemes to hide its efforts to bolster its WMD program, the U.S. government will continue to thwart them at every turn,” said Treasury Under Secretary for Terrorism and Financial Intelligence Sigal Mandelker. “We urge governments worldwide to recognize the extraordinary lengths to which the regime in Tehran will go to conceal its behavior, and to ensure that their companies and financial institutions are not facilitating Iran’s proliferation activities.”