US sanctions new individuals, entities linked to Iran

The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) has added eight individuals and six entities to its sanctions list targeting Iran. According to a statement published on the U.S. Treasury’s website, these Iranian nationals and companies are linked to exchange offices and trade networks.

Among the targeted entities is Smart Global Limited, registered in Saint Kitts and Nevis and linked to Ali Ansari, one of the eight individuals sanctioned. At the same time, Washington has authorized a transition period allowing non-Iranian actors with transactions involving Smart Global Limited to gradually end their dealings.

The other sanctioned entities are CDM Trading Limited (Hong Kong), Lavasani and Partners General Partnership Company (exchange office in Tehran), Mohammad Darbani and Partners Exchange General Partnership Company (exchange office in Tehran), Mohsen Khandan and Partners General Partnership Company (exchange office in Shiraz), and Naba Alzaki Raw Materials Trading LLC (Dubai).

Apart from Ali Ansari, the other individuals added to the sanctions list are Mohammad Darbani, Shokufeh Rostam Abadi, Mohsen Khandan, Ali Asghar Khandan, Ahmad Navai Lavasani, Amir Navai Lavasani and Zahra Sarshari.

OFAC accuses these individuals and entities of annually transferring billions of dollars on behalf of sanctioned Iranian banks, using layers of shell companies to conceal the Iranian government’s illicit financial activities.

These new sanctions were announced after a week of renewed tensions marked by Iranian strikes on three Qatari and Saudi commercial tankers. These attacks led Washington to strike sites in Iran, followed by an Iranian response against U.S. military bases in certain Gulf countries.