The United States sanctions companies in Turkmenistan, UAE, Iraq and Lebanon... alleged support for Iran
Quick Look
- Treasury announced that it had placed sanctions on companies and individuals in Turkmenistan, the UAE, Iraq, and Lebanon for allegedly supporting Iran.
- The sanctions target included companies that did business with Iraqi and Lebanese militias linked to Iran's Islamic Revolutionary Guard Corps, and the U.S.
- Treasury Secretary warned that sanctions evasion networks would be dismantled.
AI-generated summary
Why It Matters
The United States continues to impose sanctions related to Iran to curb its nuclear program and expansion of influence in the region. These sanctions are part of secondary sanctions (third-party sanctions) targeting companies and individuals from third countries that support Iran.
Turkiye sanctions UAE, Iraqi and Lebanese companies
(Seoul = Yonhap News) Reporter Kang Hoon-sang = The U.S. Treasury designated companies and individuals in the Middle East as special sanctions targets (SDN) on the 10th (local time) for supporting Iraqi Shia militias and Lebanese Hezbollah, which are proxy forces for Iran.
The Ministry of Finance explained that the companies and individuals subject to secondary sanctions (third-party sanctions) on this day were active in Turkuy, the United Arab Emirates (UAE), Iraq, and Lebanon and did business with Iraq's Kataib Hezbollah and Lebanese Hezbollah, which are close to Iran's Islamic Revolutionary Guard Corps.
The Treasury Department's Office of Foreign Assets Control (OFAC) said it was rejecting license requests for transactions with Iran, except in exceptional circumstances, and that the department was also immediately rejecting the vast majority of pending Iran-specific license requests.
U.S. Treasury Secretary Scott Besant said in a statement, "Operation Economic Bullying targets those who continue to side with the failing Iranian regime," and warned, "We will identify those who help Iran evade sanctions, whether they are financing terrorism or laundering money, block them from the U.S. financial system, and dismantle the networks that help sustain the Iranian regime."
The Treasury Department also added that the first round of sanctions was imposed on an American who clearly violated 39 sanctions against Iran, requiring him to pay a civil settlement of $1.43 million (about 1.9 billion won).
A U.S. official told Reuters that Iran's economy was taking a huge hit due to the economic bullying campaign targeting Iran, and that because of the maritime blockade, crude oil shipments, which were a source of funds for Iran, had plummeted from 1.8 million barrels per day before the war to 200,000 barrels in the past 30 days.
Regarding today's sanctions, Brett Erickson of the consulting firm Obsidian Risk Advisors said, "They do not change the situation at all," and pointed out, "They are targeting Hezbollah, but they exclude the Yemeni rebels, who are causing great confusion in the energy sector."
What to Watch
AI outlook — possibilities, not facts
The United States will continue to target Iranian support networks through additional third-party sanctions.
Likely · Within months
Open Questions
- What are the specific names of companies and individuals being sanctioned?
- What is the real impact of sanctions on the Iranian economy?
- What will be the official response from the countries subject to sanctions?
