In the final weeks of May, the U.S. Government engaged in a flurry of Iran sanctions activity, showing a continuing commitment to identifying and penalizing persons who do business with Iran.
Oil, Petrochemical, and Aircraft Industries.
On May 31, the U.S. Department of Treasury, Office of Foreign Assets Control (OFAC) imposed sanctions on entities and individuals that are part of, or have done business with, Iran’s international procurement and proliferation operations. The targeted entities include branches of the Iranian government (e.g., the Islamic Revolutionary Guard Corps and the Ministry of Defense for Armed Forces Logistics), several Iranian petrochemical companies, and a group of corporations and individuals in Kyrgyzstan, Ukraine, and the United Arab Emirates that lease or sell aircraft to Iranian companies. The sanctions were imposed pursuant to Executive Orders 13,382 (targeting proliferators and supporters of Iran’s weapons of mass destruction) and 13,599 (targeting the government of Iran).
Continue Reading OFAC Continues to Expand the Scope of Iranian Sanctions