Treasury Blocks Bank Refah Under Weapons EO
The Treasury Department has designated Bank Refah for providing financial services to the Iranian Ministry of Defense and Armed Forces Logistics (MODAFL) and the Iran Aircraft Manufacturing Industrial Company (HESA). This action was taken pursuant to Executive Order 13382, which…
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is aimed at freezing the assets of 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 this designation.