InformedInsights

Get Informed, Stay Inspired

The United States has imposed sanctions on a network that is illegally smuggling American technology to Iran's central bank.
Middle East Technology

The United States has imposed sanctions on a network that is illegally smuggling American technology to Iran’s central bank.

The U.S. government has announced sanctions against a group of businesses and individuals for helping transfer technology illegally from many U.S. companies to Iranian organizations, including the nation’s central bank.

The Treasury Department declared on Friday that the sanctions involve Informatics Services Corporation (ISC), which is the technology division of the Central Bank of Iran (CBI).

The action also approved several supposed agencies and front enterprises located in Turkey and the United Arab Emirates, as well as three individuals who are supposedly connected to them, including Pouria Mirdamadi, a dual citizen of France and Iran.

Brian Nelson, the U.S. Treasury undersecretary for terrorism and financial intelligence, said the CBI “has played a critical role” in providing financial support to Lebanon’s Hezbollah and the foreign arm of Iran’s Islamic Revolutionary Guard Corps, known as the Quds Force.

He stated that the US will persist in utilizing all resources to obstruct the Iranian government’s unlawful efforts to acquire valuable technology and essential resources from the US.

The action taken by the Treasury Department freezes all U.S. assets connected to the individuals and organizations that have been sanctioned. This also prohibits Americans from engaging in business transactions with them.

Source: voanews.com