U.S. Sanctions Network Smuggling Technology to Iran’s Central Bank

By
Staff Writer
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In a significant move to curb illegal technology transfers, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned a network for smuggling U.S. technology to the Central Bank of Iran (CBI).
In a significant move to curb illegal technology transfers, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned a network for smuggling U.S. technology to the Central Bank of Iran (CBI).

In a significant move to curb illegal technology transfers, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has sanctioned a network for smuggling U.S. technology to the Central Bank of Iran (CBI).

 

This network, implicated in the illicit procurement of goods and technology, has been found to support entities linked to Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) and Hezbollah, both of which are designated as foreign terrorist organizations by the United States.

This action is rooted in the counterterrorism authority of Executive Order (E.O.) 13224, as amended, and serves to reinforce the Central Bank of Iran’s previous designation for its financial support to the IRGC-QF and Hezbollah, highlighting the critical role of the CBI in funding destabilizing actors in the Middle East.

Brian E. Nelson, the U.S. Under Secretary of the Treasury for Terrorism and Financial Intelligence, emphasized the importance of these sanctions in disrupting the financial networks that support terrorism and destabilizing activities in the region.

 

 

The implicated procurement network, involving entities such as the Iran-based Informatics Services Corporation (ISC) and the UAE-based Advance Banking Solution Trading DMCC (ABS), operated under the facade of legitimate businesses. They were, however, engaged in the clandestine acquisition of proprietary U.S. goods and technologies, misleading American companies by falsely claiming to be the ultimate end-users.

The Treasury’s press release exposes the complex strategies employed by the sanctioned network to mask the true destinations and users of the procured items. The use of falsified End-User Certificates and the deliberate misrepresentation of destination countries were among the tactics used to smuggle goods from the UAE to Iran, circumventing U.S. sanctions.

 

The sanctions, announced by the Treasury, target three individuals and four entities involved in a sophisticated scheme to acquire American technology for the CBI, in clear violation of U.S. export controls and sanctions.
The sanctions, announced by the Treasury, target three individuals and four entities involved in a sophisticated scheme to acquire American technology for the CBI, in clear violation of U.S. export controls and sanctions.

 

The implications of these sanctions are immediate and far-reaching. All property and interests in property of the designated individuals and entities within the United States or under the control of U.S. persons are now blocked and must be reported to OFAC. Furthermore, financial institutions and other entities that engage in transactions with these sanctioned parties risk facing additional sanctions or enforcement actions, underscoring the U.S. government’s commitment to preventing the proliferation of technologies that could bolster Iran’s destabilizing activities and support for terrorism.

 

 

 

MEK Iran (follow us on Twitter and Facebook), Maryam Rajavi’s on her site, Twitter & Facebook, NCRI  (Twitter & Facebook), and People’s Mojahedin Organization of Iran – MEK IRAN – YouTu

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