OFAC Blocks Iranian Bank Under WMD EO
The Office of Foreign Assets Controls announces the designation pursuant to Executive Order 13382 of Bank of Industry and Mine (BIM), an Iranian state-owned bank used by the Government of Iran to evade U.S. and international sanctions against Iranian financial…
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institutions involved in facilitating transactions in support of Iran’s proliferation activities. EO 13382 is aimed at freezing the assets of proliferators of weapons of mass destruction (WMD) and their supporters, thereby isolating them from the U.S. financial and commercial systems. OFAC has also updated its Specially Designated Nationals list to include this designation.