US Slaps Sanctions on Central Bank of Iran Subsidiary, Others

The United States has imposed sanctions on an Iranian subsidiary of the Central Bank of Iran (CBI), two entities based in the United Arab Emirates, one based in Turkey, and three individuals for “facilitating the illegal export of goods and technology from over two dozen U.S. companies to end-users in Iran.”

“These designations target three individuals and four entities tied to the procurement of sophisticated U.S. technology for use by CBI in violation of U.S. export restrictions and sanctions,” the Treasury Department said in a statement on February 14.

“Among the goods and technology acquired by CBI were items classified as information security items subject to national security and anti-terrorism controls by the U.S. Department of Commerce’s Bureau of Industry and Security.”

The CBI was already under sanction for providing financial support to the Islamic Revolutionary Guard Corps's expeditionary Quds Force (IRGC-QF) and Lebanon’s Iranian-backed Hezbollah group.

"The Central Bank of Iran has played a critical role in providing financial support to the IRGC-QF and Hezbollah, two key actors intent on further destabilizing the Middle East," Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson said.

All property of those sanctioned that is in the United States or falls under the control of US persons is blocked. US regulations bar Americans from transactions involving property of those sanctioned.