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Entries in WMD (2)

Tuesday
Nov302010

New Sanctions Against Iran Shipping Line’s Front Companies, Officers

Photo Courtesy -- Treasury Dept.(WASHINGTON) – The U.S. Treasury Department has announced sanctions against more entities affiliated with Iran’s shipping line or Bank Mellat, both of which have been tied to the country’s weapons of mass destruction programs.

The department on Tuesday named five corporate officers and 10 businesses they say are tied to either the Islamic Republic of Iran Shipping Lines or Bank Mellat, both of which are under sanction.

“As long as Iran uses front companies, cut-outs and other forms of deception to hide its illicit activities, we intend to expose this conduct and thereby counteract Iran's attempts to evade U.S. and international sanctions,” said Under Secretary for Terrorism and Financial Intelligence Stuart Levey. 

Among those named by the department were Malaysia-based Pearl Energy Company and its director, as well as four top IRISL executives and eight IRISL front companies located on the Isle of Man. 

These and similar sanctions have been made in an attempt to cut off financial support to WMD proliferators.

Copyright 2010 ABC News Radio

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.

Copyright 2010 ABC News Radio







ABC News Radio