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Seven countries issue Iran-related sanctions at 25 targets

Last updated on October 30, 2019

The USA and six other nations enforced sanctions on Wednesday on 25 businesses, banks and individuals connected to Iran’s support for militant networks such as Hezbollah, the U.S. Treasury Department said in a statement.

All of the 25 targets were sanctioned by the USA.

“The TFTC’s action coincides with my visit to the Middle East, where I’m meeting with my counterparts throughout the area to strengthen the fight against terrorist financing,” Mnuchin stated from the Treasury announcement.

Back in Jerusalem on Monday, Mnuchin explained the United States would raise economic pressure on Iran on its atomic program, which makes the toast during a Middle East trip that includes visits to U.S. allies Israel and Saudi Arabia.

Sanctions reimposed on Tehran from President Donald Trump later he withdrew the USA from world forces’ 2015 nuclear pact with Tehran have dried up Iranian oil earnings and reduce on European banks’ ties into the financial world.

Twenty-one of those targets announced Wednesday included a huge community of companies providing financial aid into the Basij Resistance Force, the Treasury said.

It stated shell companies and additional steps have been used to conceal Basij possession and control within multibillion-dollar small business interests in Iran’s automotive, mining, metals, and banking businesses, many of which have run across the Middle East and Europe.

The four people targeted were Hezbollah-affiliated and help organize the team’s operations in Iraq, ” it said.