US announces new economic sanctions on Iran

RSTV Bureau
Photo of White House from

Photo of White House from

The US has announced a fresh round of economic sanctions against Iran for allegedly engaging in hostile cyber-attacks on American financial system.

Eleven Iranian entities and individuals have been identified by the US.

Those sanctioned include an entity engaging in activities in support of Iran’s Islamic Revolutionary Guard Corps (IRGC) ballistic missile programme; two Ukraine-based entities providing support to designated airlines, including one affiliated with the IRGC-Qods Force (IRGC-QF).

Two Iran-based networks responsible for malicious cyber-enabled attacks against the US financial system.

“Treasury will continue to take strong actions to counter Iran’s provocations, including support for the IRGC-Qods Force and terrorist extremists, the ongoing campaign of violence in Syria, and cyber-attacks meant to destabilise the US financial system,” said Treasury Secretary Steven T Mnuchin.

“These sanctions target an Iranian company providing material support to the IRGC’s ballistic missile programme, airlines that support the transport of fighters and weapons into Syria, and hackers who execute cyber-attacks on American financial institutions,” he added.

As a result of the latest US action, all property and interests in property of those designated subject to US jurisdiction are blocked, and US persons are generally prohibited from engaging in transactions with them.

In addition, foreign financial institutions that facilitate significant transactions for, or persons that provide material or certain other support to, the entities and individuals designated today risk exposure to sanctions that could sever their access to the US financial system or block their property and interests in property under US jurisdiction

(With inputs from PTI)