Cyprus Mail

US issues sanctions on Iranian subsidiary of the Central Bank of Iran, others

file photo: iranian flag pictured in front of iran's fm building in tehran
FILE PHOTO: Iranian flag is pictured in front of Iran's Foreign Ministry building in Tehran

The United States on Wednesday said it had imposed sanctions on an Iranian subsidiary of the Central Bank of Iran (CBI), two entities based in the United Arab Emirates (UAE), one based in Turkey and three individuals for smuggling U.S. technology.

In a statement, the U.S. Treasury Department named the entities as Iran-based Informatics Services Corporation (ISC), a subsidiary of CBI; UAE-based Advance Banking Solution Trading DMCC (ABS); an ISC front company; UAE-based Freedom Star General Trading Co. (L.L.C.); and Turkey-based Ted Teknoloji Gelistirme Hizmetleri Sanayi Ticaret Anonim Sirketi (Ted).

“The Central Bank of Iran has played a critical role in providing financial support to the (Islamic Revolutionary Guard Corps-Qods Force) and Hezbollah, two key actors intent on further destabilizing the Middle East,” Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian Nelson said in the statement.

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