OFAC ADDS MANY IRAN SANCTIONS DESIGNATIONS AND AMENDS SANCTIONS LIST – TARGETS BASIJ RESISTANCE FORCE

On 16th October, OFAC added 20 new entities, including Bank Mellat, the Sina Bank and Parsian Bank, amended 2 entries, and deleted 7 previous entries (including former entries relating to the 3 banks) which were not subject to secondary sanctions under those listings.  The new sanctions measures are said to be to target a network of businesses providing financial support to the Basij Resistance Force (Basij), a paramilitary force subordinate to Iran’s Islamic Revolutionary Guard Corps (IRGC).

https://www.treasury.gov/resource-center/sanctions/OFAC-Enforcement/Pages/20181016.aspx

https://home.treasury.gov/news/press-releases/sm524

BASIJ

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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