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US targets Iran conglomerate, intelligence minister

US targets Iran conglomerate, intelligence minister
Sanctions include 50 subsidiaries in key industries including energy, mining, financial services

By Ovunc Kutlu

ANKARA (AA) - The US government took action against a massive Iranian conglomerate and Tehran’s intelligence minister, US Treasury Department's Office of Foreign Assets Control (OFAC) said Wednesday.

OFAC designated Mahmoud Alavi because the US said the ministry has played a central role in the regime’s human rights abuses against citizens.

The actions also targeted the Islamic Revolution Mostazafan Foundation, also known as Bonyad Mostazafan or the Foundation, its leadership and 50 of its subsidiaries in key Iranian sectors such as energy, mining, logistics, information technology and financial services.

"Iran’s Supreme Leader uses Bonyad Mostazafan to reward his allies under the pretense of charity," US Treasury Secretary Steven Mnuchin said in the statement.

"The United States will continue to target key officials and revenue generating sources that enable the regime’s ongoing repression of its own people," he added.

OFAC said all property of those designated will be blocked and reported to the US government, adding those who engage in transactions with the designated individuals and entities may also be exposed to sanctions.

source: News Feed
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