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Wednesday
Oct272010

Treasury Department Exposes Continued Efforts by Iran to Avoid Shipping Sanctions

Photo Courtesy - US Treas dot gov(WASHINGTON) -- The U.S. Department of the Treasury Wednesday announced new sanctions on a number of individuals and entities tied to Iran’s shipping line. The sanctions are an effort to combat attempts by Iran to skirt sanctions imposed on the line in 2008, the department said.

The release designated 37 companies based in Germany, Malta and Cyprus, as well as five Iranian individuals that are believed to be owned, controlled by, or acting on behalf of the Islamic Republic of Iran Shipping Lines (IRISL) and its affiliates. 

The Treasury Department said the sanctions further expose Iran’s attempts to advance its illicit weapons of mass destruction program and to carry military cargoes.

“We will continue to expose the elaborate structures and tactics Iran uses to shield its shipping line from international scrutiny so that it can continue to facilitate illicit commerce,” said Stuart Levey, Under Secretary for Terrorism and Financial Intelligence.

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