OFAC: NEW IRANIAN SANCTIONS TARGETING ORGANISATIONS CONTROLLING HALF THE IRAN ECONOMY – 3 INDIVIDUALS AND 16 ENTITIES ADDED, WITH 7 OTHERS AMENDED

On 13 January, OFAC advised that it had added a number of names to its SDN List, with amendments made to 7 existing entries.  The purpose of the new entries is said to be to target 2 organisations, along with their leaders and subsidiaries, controlled by the Supreme Leader of Iran.  It is said that these organisations, EIKO and AQR, control large swaths of the Iranian economy, including assets expropriated from political dissidents and religious minorities, to the benefit of Supreme Leader Ali Khamenei and senior Iranian government officials.   Alongside the previously designated Bonyad Mostazafan, itself controlled by the Supreme Leader, and the IRGC-owned Khatam al-Anbiya, AQR and EIKO are said to control more than half of the Iranian economy.

https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20210113

https://home.treasury.gov/news/press-releases/sm1234

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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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