OFAC Sanctions Iranian Security Officials, Shadow Banking Network
The Office of Foreign Assets Control this week sanctioned Iranian security officials involved in the country's violent crackdown on protesters, and it also designated people and entities that it said help launder revenue from Iranian petroleum and petrochemical sales as part of a “shadow banking” network of sanctioned Iranian financial institutions.
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One designation targets Ali Larijani, the secretary of the Supreme Council for National Security, who OFAC said was one of the first Iranian leaders to call for violence in response to the protests. The agency also sanctioned Mohammad Reza Hashemifar, the commander of the U.S.-designated Law Enforcement Forces of the Islamic Republic of Iran; Nematollah Bagheri, an Islamic Revolutionary Guard Corps commander of the Lorestan province; and Azizollah Maleki and Yadollah Buali, commanders for the Fars province.
In addition, OFAC sanctioned 18 people and entities participating in the shadow banking networks of designated Iranian banks Bank Melli and Shahr Bank. They have worked closely with the banks’ Iran-based clients to carry out international trade payments, including transactions involving the "production, transportation, and export of Iranian crude oil and oil distillates," the agency said.
The designations target entities both inside and outside Iran, including United Arab Emirates-based Empire International Trading FZE, Singapore-based Golden Mist PTE. Ltd., and Iran-based Nikan Pezhvak Aria Kish Co. Also sanctioned were UAE-based HMS Trading FZE and several of what OFAC said are its financial front companies, including U.K.-based Nanshan Ltd.