Americas

Americas

US imposes sanctions against 4 Iranian companies

29 March 2012 07:52 (UTC +04:00)

APA reports that the US Department of Treasury said that Iran Maritime Industrial Company SADRA (SADRA), with offices in Iran and Venezuela, is targeted for being owned by Khatam al-Anbiya, an engineering company used by the IRGC to fund its operations. Deep Offshore Technology PJS was blacklisted as a subsidiary wholly-owned by SADRA.

The Treasury said that any foreign financial institution knowingly doing business with the two firms faces potential loss of its correspondent account access to the United States. Modality Limited and Malship Shipping Agency Ltd, two companies based in Malta, were put under sanctions as they are affiliates of the Islamic Republic of Iran Shipping Lines (IRISL). Seyed Alaeddin Sadat Rasool and Ali Ezati, two IRISL officials, were listed for sanctions as well. The IRGC is a primary target of sanctions by the U.S. and other countries, as Washington points to the central role it plays in Iran’s missile and nuclear programs, as well as its support for terrorism and its involvement in â€œseriousâ€ human rights abuses in the Islamic republic. â€œThe IRGC has continued to expand its control over the Iranian economy, in particular in the defense production, construction, and oil and gas industries,â€ the Treasury said in a statement.