OFAC Announces More Iran Sanctions
The Treasury’s Office of Foreign Assets Control announced sanctions on Iran two days after President Donald Trump instructed the Treasury to increase pressure on the country. The sanctions target the Central Bank of Iran, the National Development Fund of Iran and Etemad Tejarate Pars Co. for funding Iran’s military and contributing to terrorism, Treasury said in a Sept. 20 press release.
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The CBI funds the Islamic Revolutionary Guard Corps and its Qods Force and has been involved with several U.S.-sanctioned people, including former CBI governor Valiollah Seif and its international department director Rasul Sajjad, Treasury said. The agency also called the NDF a “slush fund” for the IRGC, which has received “hundreds of millions of dollars in cash” from the NDF. OFAC is targeting Iran-based Etemad Tejarate Pars Co. for providing “financial, material, or technological support” for Iran’s Ministry of Defense and Armed Forces Logistics.
The sanctions are in response to what the U.S. is calling a recent Iranian attack on Saudi Arabian oil fields. “Iran’s brazen attack against Saudi Arabia is unacceptable,” Treasury Secretary Steven Mnuchin said in a statement. “The United States will continue its maximum pressure campaign against Iran’s repressive regime, which attempts to achieve its revolutionary agenda through regional aggression while squandering the country’s oil proceeds.”