State Department Press Release on yesterday’s Iran designations
On November 10, 2020 the Department of the Treasury designated an international network of six companies and four individuals for facilitating the procurement of sensitive goods, including U.S.-origin electronic components, for Iran Communications Industries (ICI). ICI is a sanctioned Iranian military firm and a subsidiary of Iran Electronics Industries, which falls under Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL).
These individuals and entities were designated under Executive Order 13382, which targets proliferators of weapons of mass destruction (WMD) or WMD delivery systems, and their supporters. In addition to a freeze on any U.S. assets, the sanctioned individuals will be denied access to the U.S. financial system and listed on the Office of Foreign Assets Control’s Specially Designated Nationals (SDN) List.
This action is another warning that those who do business with Iran’s military and proliferation-sensitive industries are running the risk of being sanctioned. The United States will continue to use all tools at our deposal to prevent the Iranian regime from threatening regional and global stability and security.
State Department Press Release
Categories: Iranian Sanctions OFAC Updates State Department Updates Weapons of Mass Destruction Proliferation Sanctions