Treasury Targets Iran’s Billion Dollar Metals Industry and Senior Regime Officials U. S. Department of the Treasury

WASHINGTON – Today, the U. S. Department of the Treasury’s Office of Foreign Assets Control OFAC took action towards eight senior Iranian regime officers who have sophisticated the regime’s destabilizing ambitions, as well as the largest steel, aluminum, copper, and iron manufacturers in Iran, who collectively generate billions of dollars every year. Treasury’s action consists of the designations of Ali Shamkhani, the Secretary of Iran’s Supreme National Security Council; Mohammad Reza Ashtiani, the Deputy Chief of Staff of Iranian militia; and Gholamreza Soleimani, the pinnacle of the Basij militia of the Islamic Revolutionary Guards Corps IRGC. In addition, Treasury designated 17 Iranian metals producers and mining businesses; a network of three China and Seychelles based entities; and a vessel in touch in the acquire, sale, and move of Iranian metals items, as well as in the provision of crucial metals production additives to Iranian metal manufacturers.

Concurrently with today’s designations, the President is signing a new Executive Order E. O. that goals additional assets of revenue used by the Iranian regime to fund and aid its nuclear program, missile advancement, terrorism and terrorist proxy networks, and malign neighborhood affect. Specifically, this E. O. authorizes the Secretary of the Treasury, in session with the Secretary of State, to impose sanctions towards people working in or transacting with additional sectors of the Iranian economic climate, including development, mining, production, and textiles.

Pamchel Trading Beijing Co. Ltd. uses Power Anchor Limited, discovered in the Seychelles, as a front brand to obfuscate the true Iranian end user for metals related materials shipped to Iran. Pamchel Trading Beijing Co. Ltd. has also used Power Anchor Limited to facilitate payments from Iranian steel companies for purchases of graphite electrodes utilized in metal construction brokered by Pamchel Trading Beijing Co.

See also  What Industry Spends the Most on Advertising? Small Business

Ltd. Power Anchor Limited is being designated pursuant to E. O. 13871 for being owned or controlled by, or having acted or presupposed to act for or on behalf of, without delay or in a roundabout way, Pamchel Trading Beijing Co. Ltd.

In September 2019, the vessel Hong Xun transported steel slabs purchased by Pamchel Trading Beijing Co. Ltd. from Esfahan Mobarakeh Steel Company from Bandar Abbas, Iran, to China. Hongyuan Marine Co. Ltd.

, observed in Zhejian, China, is the registered owner of the vessel Hong Xun, as well as the vessel’s Ship Manager/Commercial Manager. Hongyuan Marine Co. Ltd. is being designated pursuant to E. O. 13871 for having knowingly engaged, on or after the date of E.

O. 13871, in a significant transaction for the acquire, acquisition, sale, shipping, or advertising of iron, iron merchandise, aluminum, aluminum items, steel, steel merchandise, copper, or copper products from Iran via its vessel, Hon Xun. OFAC also is selecting the Hong Xun as blocked belongings by which Hongyuan Marine Co. Ltd. has an interest. Mohammad Reza Naqdi was appointed by the Supreme Leader as the Deputy Coordinator of the IRGC in May 2019.

Naqdi is the previous Commander of the Basij, in addition to a former head of the Basij intelligence unit who was liable for the interrogation of these arrested during the post election crackdown in 2009. In this role, he extracted forced confessions from high ranking reformist leaders broadcast on Iranian state run television. As a results of his activities in the aftermath of the 2009 protests, Naqdi was formerly designated by Treasury in 2011 pursuant to E. O. 13553, a human rights authority.

See also  Affiliate Marketing Tune Up: Create A Money Making Landing Page For Affiliate Products