OFAC Blocks Iran Entities & Individual Tied to IRGC, Etc.
The Office of Foreign Assets Control has designated two major Iranian commercial entities, Tidewater Middle East Co. and Iran Air for their affiliation with Iran’s Islamic Revolutionary Guard Corps (IRGC), pursuant to Executive Order 13382, which freezes the assets of…
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proliferators of weapons of mass destruction (WMD) and their supporters. Treasury also designated an entity, Mehr-e Eqtesad-e Iranian Investment Company and Behnam Shahriyari Trading Company, and an individual, Behnam Shahriyari, for their ties to a company that provided support and weapons to Hizballah on behalf of the IRGC, pursuant to EO 13224, which targets for sanctions terrorists and those providing support to terrorists or acts of terrorism. OFAC has also updated its Specially Designated Nationals list to include these designations. A joint State and Treasury Department statement on these sanctions is available here. The FR notice on Shahriyari's designation is available here. The FR notice on Iran Air's designation is available here. The FR notice on Mehr-e and Tidewater's designation is available here.