Tuesday, December 21, 2010

Treasury Puts Additional Iran Entities Under US Sanctions

The US Treasury today added two additional Iranian banks – Bank Ansar and Bank Mehr – to its growing list of Iranian financial institutions under US sanctions. The Treasury accused the banks of financing IRGC and Islamic Republic of Iran Shipping Lines (IRISL) activities in support of Iran’s nuclear program. The designation would make it nearly impossible for the banks to link to the global financial markets to issue letters of credit and other financial instruments required in international transactions.

The Treasury also designated Pars Oil and Gas Company, a major subsidiary of the Iranian National Oil Company, as an entity supporting the country's nuclear and missile programs. Pars is the country's lead developer of Pars Gas Fields, which along the adjacent Qatari fields form the world's largest gas field.

On the insurance front, the Treasury added Moalem Insurance Co. to the list of entities under US sanctions. The action would prevent the company to issue internationally accepted insurance coverage for IRISL, further complicating the activities of the country's flag shipping lines.

Also designated were Bonyad Taavoni Sepah (“IRGC Cooperative”) as an entity handling IRGC investments and Liner Transport Kish, for among other things transporting arms from Iran to Hezbollah.

"It's clear that it's important for us to continue to impose pressure to highlight the fact that firms are looking for ways to help Iran evade international sanctions," said Treasury Undersecretary Stuart Levey [Reuters, 21 December].


Anonymous said...

This is good news for Iran

Go Iran Go

Anonymous said...

USA Sanctions everybody that would eventually steal the contracts away from US companies in the ME region.

No worries at all, Sanctions make sense when an economy is dependeant on another super economy.

US is far from being a super economy and Irans economy is more or less a story for itself and certainly not dependant.
Those being threathend with violence and fines for doing business, have already found the way to screw all.

Iran goes forward regardless of some Garden politician rehtorics.


Anonymous said...

These sanctions are actually for all firms with no special relationships.
All US firms with a special relationship or better said the right lobby works with Iran.
The Europeans are bullied out with threats and fines.

Darius London

Anonymous said...

"Treasury puts additional irainanbanks unter us sanctions!!"

who cars ?

Anonymous said...

Banks and shipping lines and etc that do not work with the US are coming under sanctions loool
Have you ever wondered why now ? as long as they are working with US companies they are legit ;).
As soon as a new better way comes up the old way is sanctioned

Anonymous said...

US made trade exceptions for Iran


Dariush London