All tagged OFAC

Swiss Humanitarian Channel to Iran Takes Effect

◢ A new Swiss payment mechanism allowing food, medicine and other humanitarian aid to be sent to Iran without stumbling over US sanctions has officially taken effect, Bern said Thursday. Iran has been facing severe medical shortages since the US pulled out of a landmark nuclear deal and reimposed crippling sanctions on the country in 2018.

US Sanctions Threaten Iranians' Right to Health: HRW

◢ Washington's sanctions against Tehran have drastically reduced available channels for humanitarian imports and are threatening the health rights of Iranians, Human Rights Watch said Tuesday. Iranian patients have struggled with a foreign medicine shortage and price hikes for over a year both due to reimposed US trade sanctions as well as a battered economy with a free-falling currency.

Trump’s Top Sanctions Official Departing for Private Sector

◢ The U.S. Treasury Department’s top sanctions official, Sigal Mandelker, plans to leave the Trump administration after helping to increase the pace of economic penalties against American adversaries. Mandelker, who joined the Treasury Department in June 2017, has helped lead new sanctions on countries including North Korea, Russia, Venezuela, and Iran.

US Hits Iran 'Nuclear Enrichment Network' with Sanctions

◢ The US Treasury named a group of companies in Iran, Belgium and China to its sanctions blacklist Thursday for acting as a supply network for Tehran's nuclear enrichment program. The companies served as a procurement network for Iran's Centrifuge Technology Company (TESA), which produces enrichment centrifuges for the Atomic Energy Organization of Iran (AEOI), the Treasury said.

Mnuchin Warns Europe Not to Breach U.S. Sanctions on Iran

◢ Treasury Secretary Steven Mnuchin made clear that participating in the U.S. financial system means abiding by its sanctions amid a European effort to sidestep American economic pressure on Iran to continue trade. “We’ve been very clear that we expect U.S. sanctions to be adhered to,” Mnuchin said in response to questions from reporters on Thursday.

Iraq Sets Up 'Loophole' in US Sanctions to Buy Iranian Power

◢ Iraq is establishing a financial "loophole" to continue buying vital gas and electricity from Iran despite US sanctions, AFP has learned, mirroring a European mechanism that came into effect Friday. The "special purpose vehicle" (SPV) would allow Iraq to pay for imported Iranian energy in Iraqi dinars, which Iran could use to exclusively buy humanitarian goods, three senior Iraqi officials said.

Trump Sanctions Iran's Supreme Leader in Provocative Move

◢ President Donald Trump imposed sanctions on Iran’s supreme leader, Ayatollah Ali Khamenei, and eight senior military commanders, a provocative step designed to increase pressure on the Islamic Republic. Trump told reporters at the White House on Monday that the penalties would deny Khamenei and his office access to financial resources.

US Blacklists Iraq Firm as Revolutionary Guard Guns Front

◢ The US Treasury placed Iraq-based South Wealth Resources on its sanctions blacklist Wednesday, saying the company is an important weapons trafficking and financial front for Iran's Islamic Revolutionary Guard Corps. The Treasury said the company, Manabea Tharwat al-Janoob General Trading Company, was used by the IRGC to smuggle "hundreds of millions of dollars' worth" of weapons to IRGC allies in Iraq. 

US Hits Iran Petrochemical Group PGPIC with Sanctions

◢ The United States has hit Iran's petrochemical group PGPIC with economic sanctions due to its ties with the country's Revolutionary Guards (IRGC), the Treasury Department announced on Friday. The move aims to choke off financing to the country's largest and most profitable petrochemical group and extends to its 39 subsidiaries and "foreign-based sales agents," Treasury said in a statement.

Schlumberger Workers Sought by U.S. on Iran, Sudan Sanctions

◢ The US government has interviewed one Schlumberger Ltd. worker and wants access to four other current and former employees as part of a probe into potential sanctions violations in Iran and Sudan, according to federal court documents. The unnamed worker for the world’s biggest oil-services provider was interviewed on March 8 about a matter related to a company Schlumberger acquired in 2014.