Treasury Blocks 5 Individuals, 10 Companies Under Terrorism EO
The Treasury Department has announced the designations of five corporate officers and 10 businesses affiliated with either the Islamic Republic of Iran Shipping Lines (IRISL) or Bank Mellat, two entities previously designated by Treasury for supporting Iran's weapons of mass destruction program and carrying military cargoes. Designated were Pearl Energy Company, its Director Ali Afzali, as well as Pearl Energy Services, SA.
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Treasury also designated four top IRISL executives; and eight IRISL front companies located on the Isle of Man. The designations were taken pursuant to Executive Order 13382, which targets for sanctions proliferators of weapons of mass destruction (WMD) and their supporters, thereby isolating them from the U.S. financial and commercial systems. The Office of Foreign Assets Control has also updated its Specially Designated Nationals List to include these designations.