U.S. Sanctions Iran “Front Companies”

On Dec. 20, the United States issued new sanctions against front companies linked to Iran’s missile program. The following rundown was released by the Treasury Department.
The U.S. Department of the Treasury today announced the designation of 10 shipping and front companies and one individual based in Malta affiliated with the Islamic Republic of Iran Shipping Lines (IRISL), an entity facing international sanctions for its involvement in Iran’s efforts to advance its missile programs and transport military cargoes. Today’s action is being taken as IRISL and its subsidiaries have increasingly relied upon multiple front companies and agents to overcome the impact of U.S. and international sanctions and increased scrutiny of their behavior.

“As IRISL and its subsidiaries continue their deceptive efforts to escape the grasp of U.S. and international sanctions, we will continue to take action—as we are today—to expose the front companies, agents and managers working with IRISL and work to stop this illicit business,” said Under Secretary for Terrorism and Financial Intelligence David S. Cohen.

The entities and individual designated today are owned or controlled by, or acting or purporting to act for or on behalf of, directly or indirectly, IRISL, Irano Hind, or ISI Maritime.

The full announcement can be found at: http://content.govdelivery.com/bulletins/gd/USTREAS-22b296?reqfrom=share