Treasury Sanctions Iran-Tied Firms, Individuals

March 28, 2012

The Wall Street Journal on March 28, 2012 released the following:

“By Samuel Rubenfeld

The U.S. Treasury Department said Wednesday it imposed additional sanctions on individuals and entities linked to the Iranian state shipping line and the country’s military forces.

Treasury designated the Iran Maritime Industrial Co. SADRA, and its subsidiary Deep Offshore Technology PJS, for being linked to an engineering arm of the Iranian Revolutionary Guard Corps, which the U.S. says has played an active role in its missile and nuclear programs. Tehran maintains its nuclear program is peaceful and for civilian purposes.

“Treasury is sending a clear signal to the international community that Iran’s attempts to evade international sanctions will not go unnoticed,” said Adam Szubin, director of Treasury’s Office of Foreign Assets Control, in a statement.

The Treasury Department also designated two front companies for the Iranian state shipping line based in Malta, both of which are owned by an executive of the line who was sanctioned in October 2010. The measures announced Wednesday also target two state shipping line employees — a senior legal adviser and a strategic planner.”


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