US Treasury Dept sanctions Iran military financiers and brokers
ERBIL (Kurdistan 24) - The US Treasury Department on Wednesday sanctioned 20 persons and entities for facilitating monetary transactions for Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL), Iranian Armed Forces General Staff (AFGS), and the Islamic Revolutionary Guard Corps-Quds Force (IRGC-QF).
“The IRGC-QF and MODAFL continue to engage in illicit finance schemes to generate funds to fan conflict and spread terror throughout the region,” said Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson.
“The United States remains committed to exposing elements of the Iranian military and its complicit partners abroad to disrupt this critical source of funds,” the secretary added.
As part of the annual budget for Iran’s military, the country’s government provides billions of dollars worth of goods, including petroleum, to its defense ministry and armed forces. Also included are procurements for the country’s Islamic Revolutionary Guard Corps (IRGC).
The "illicit transactions" bypass existing sanctions to sell the goods to foreign entities and generate revenue, according to the statement.
The newly-sanctioned foreign entities were punished for transacting with Iran’s Defense Ministry and Armed Forces. Included are two Hong Kong-based entities, fice Dubai-based firms, and two Sharjah-based (UAE) firms.
The Treasury Department also issued a list of brokers part of “complex networks” that are sanctioned for facilitating transactions with the IRGC and Quds Forces. The sanctioned entities include two UAE-based firms and two Singapore-based firms, along with a CEO, attorney, and other business executive advocating for the groups.
The sanctions imply that any entity or US citizen that performs a financial transaction with the persons and entities may be subjected to “enforcement action.”
The sanctions also “block” any properties and interests in the US in which the sanctioned persons have a 50% or more stake.
The 20 persons and entities have been “designated” to the Specially Designated Nationals and Blocked Persons List (SDN List), which the agency says is not designed to “punish,” as the sanctioned persons may be removed in time with positive behavior.
Earlier on Nov. 17, the US Treasury also sanctioned six Kata’ib Hezbollah members and associates for orchestrating numerous attacks against US installations throughout Iraq in retaliation for US support of Israel in the ongoing Gaza conflict.