Outgoing Trump administration imposes new Iran-related sanctions

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
US Treasury Secretary Steve Mnuchin (L) at a ceremony in Manama, Bahrain on October 18, 2020. (Photo by AFP)

The outgoing administration of US President Donald Trump has imposed Iran-related sanctions on several individuals and entities.

The US Treasury Department said in a statement on Tuesday that the new sanctions had been slapped on a network of six companies and four individuals.

The Treasury’s Office of Foreign Assets Control (OFAC)  accused the network of facilitating the procurement of sensitive goods for an Iranian
military firm.

Iran-based Hoda Trading and Artin Sana’at Tabaan Company, as well as China-based Naz Technology Company, Hong Kong-based Proma Industry Company, UAE-based DES International Company and Brunei-based Soltech Industry Company were the six companies, and Mohammad Soltanmohammadi, Shih Mei Sun, Chin-Hua Huang and Mohammad Banihashemi were the four individuals subjected to the new US sanctions.

As a result of the US Treasury’s sanctions, all property and interests in the property of these targets that were in the United States or in the possession or control of US citizens, who are prohibited from engaging in transactions with the targets, must be blocked and reported to OFAC.

US Treasury Secretary Steven Mnuchin accused the above-mentioned network of international companies run by individuals from different countries of facilitating efforts by the Iranian government to advance its communication systems, avionics and missile launchers.

"The Iranian regime utilizes a global network of companies ...  who help to support the regime’s militarization and proliferation efforts," he said.

Last month,  the US Treasury slapped sanctions on a number of Iranian individuals and entities affiliated with the Islamic Republic’s oil sector.

US President Donald Trump unleashed his so-called maximum pressure campaign against Iran in 2018, after he unilaterally left the 2015 multilateral nuclear agreement, officially known as the Joint Comprehensive Plan of Action (JCPOA), reached between Iran and major world powers.

The “toughest ever” sanctions against the Islamic Republic targeted the Iranian nation with draconian restrictive measures in order to bring it to its knees.

However, Iran's economy remains resilient despite US hostilities.

Iran's Minister of Petroleum, Bijan Zangeneh, is one of the individuals targeted by the US sanctions.

Zanganeh has assured "Iran's oil industry will not be hamstrung" by US sanctions.

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