US imposes Iran-related sanctions on 4 individuals, 6 entities

Washington: The US government has imposed Iran-related sanctions on four individuals and six entities, the Treasury Department said in a statement on Tuesday.

Today, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated a network of six companies and four individuals that facilitated the procurement of sensitive goods, including US-origin electronic components, for Iran Communication Industries (ICI),” the statement said.

The US government alleges that ICI is owned by the Iranian defence ministry (MODAFL). Included in OFAC’s latest non-proliferation and Iran-related designations are two Iranian and Taiwanese nationals as well as entities based in Iran, Taiwan and Hong Kong.

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Washington claims that Hoda Trading, an Iranian-based company owned by ICI, acquired US electronic components used in military equipment through intermediaries in Taiwan and Hong Kong, the release said.

In addition to the latest round of sanctions against Iran, the US Attorney’s Office for the District of Columbia filed criminal charges against two of the entities and one individual designated by the OFAC.

The imposed sanctions allow authorities to seize all assets owned by the individuals and entities in question in the United States, should there be any, and prohibit US and foreign entities with engaging in financial transactions with the sanctioned parties.

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