US Imposes Sanctions on Central Bank of Iran’s Subsidiary and Other Entities

The United States imposed sanctions on a subsidiary of the Central Bank of Iran (CBI), along with entities based in the United Arab Emirates and Turkey, and on three individuals for smuggling US technology to the CBI. The sanctions target individuals and entities tied to the procurement of sophisticated US technology for use by CBI in violation of US export restrictions and sanctions. The Treasury noted that CBI is already under sanction for providing financial support to Iran’s Islamic Revolutionary Guard Corps’s Quds Force and Hezbollah. The sanctions are Washington’s latest efforts to punish Tehran, whose proxies in Iraq, Lebanon, Syria, Yemen and the Gaza Strip have attacked US and Israeli targets. The entities named include Iran-based Informatics Services Corporation (ISC), a subsidiary of CBI; UAE-based Advance Banking Solution Trading DMCC (ABS), an ISC front company; UAE-based Freedom Star General Trading Co (L.L.C.); and Turkey-based Ted Teknoloji Gelistirme Hizmetleri Sanayi Ticaret Anonim Sirketi (Ted). The three individuals are ISC Chief Executive Seyed Abotaleb Najafi; Freedom Star President Mohammad Reza Khademi; and ISC employee Pouria Mirdamadi. 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. All property of those sanctioned that is in the United States or falls under the control of US persons is blocked. US regulations bar US persons from transactions involving property of those sanctioned.