U.S. sanctions Iran Central Bank subsidiary for U.S. tech procurement and violating export rules
The U.S. has imposed sanctions on three people and four firms — across Iran, the United Arab Emirates and Turkey — for allegedly helping to export goods and technology purchased from U.S. companies to Iran and the nation’s central bank
Your support helps us to tell the story
This election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on the ground talking to the people Trump and Harris are courting. Your support allows us to keep sending journalists to the story.
The Independent is trusted by 27 million Americans from across the entire political spectrum every month. Unlike many other quality news outlets, we choose not to lock you out of our reporting and analysis with paywalls. But quality journalism must still be paid for.
Help us keep bring these critical stories to light. Your support makes all the difference.
The U.S. on Wednesday imposed sanctions on three people and four firms — across Iran, the United Arab Emirates and Turkey — for allegedly helping to export goods and technology purchased from U.S. companies to Iran and the nation's central bank.
Treasury’s Office of Foreign Assets Control said the procurement network transferred U.S. technology for use by Iran's Central Bank in violation of U.S. export restrictions and sanctions.
Some of the materials acquired by the Central Bank of Iran were items classified as “information security items subject to national security and anti-terrorism controls” by the Commerce Department, Treasury says.
Included in the sanctions package is Informatics Services Corp., an Iranian subsidiary of Iran's Central Bank that most recently developed the Central Bank Digital Currency platform for the bank; a UAE-based front company, which acquired U.S. tech for the Central Bank of Iran and the front company's CEO, as well as a Turkey-based affiliate firm that also made purchases that ended up in Iran.
“The Central Bank of Iran has played a critical role in providing financial support to" Iran's Islamic Revolutionary Guard and militant group Hezbollah, said Treasury Under Secretary Brian E. Nelson, adding that they are the "two key actors intent on further destabilizing the Middle East.”
“The United States will continue to use all available means to disrupt the Iranian regime’s illicit attempts to procure sensitive U.S. technology and critical inputs," he said.
The sanctions block access to U.S. property and bank accounts and prevent the targeted people and companies from doing business with Americans.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.