US Treasury imposes new Iran-related sanctions on two organizations

An exterior view of the building of US Department of the Treasury is seen on March 27, 2020 in Washington, DC. (AFP)

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned two organizations, along with their leaders and subsidiaries, controlled by the Supreme Leader of Iran, the Execution of Imam Khomeini’s Order (EIKO), and Astan Quds Razavi (AQR).

US Treasury added that 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.

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“These institutions enable Iran’s elite to sustain a corrupt system of ownership over large parts of Iran’s economy,” said Secretary Steven T. Mnuchin.

“The United States will continue to target those who enrich themselves while claiming to help the Iranian people,” Munchin added.

These persons are being designated pursuant to Executive Order 13876, which targets the Supreme Leader of the Islamic Republic of Iran and the Iranian Supreme Leader’s Office (SLO), as well as their affiliates, the Treasury's statement added.

This action follows Treasury’s November 2020 designation of the Bonyad Mostazafan, an immense conglomerate with holdings in key sectors of Iran’s economy.

As with EIKO and AQR, Bonyad Mostazafan has been the beneficiary of favorable treatment by Iran’s corrupt leadership, and its assets have been used by the Supreme Leader Ali Khamenei to enrich his office, reward his political allies, and persecute the regime’s perceived enemies, the statement added.

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Last Update: Thursday, 14 January 2021 KSA 02:42 - GMT 23:42
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