February 15, 2024
1 min read

Sanctions hit Iran central bank subsidiary for US tech procurement

Some items acquired by Iran’s Central Bank were classified as “information security items subject to national security and anti-terrorism controls” by the Commerce Department….reports Asian Lite News

The United States has imposed sanctions on individuals and companies from Iran, the UAE, and Turkey for allegedly aiding in the illicit transfer of U.S. goods and technology to Iran and its central bank.

The Treasury’s Office of Foreign Assets Control accused a procurement network of violating U.S. export restrictions by supplying U.S. technology to Iran’s Central Bank, according to AP report.

Some items acquired by Iran’s Central Bank were classified as “information security items subject to national security and anti-terrorism controls” by the Commerce Department.

Among the sanctioned entities are Informatics Services Corp., an Iranian subsidiary of Iran’s Central Bank, a UAE-based front company, and a Turkey-based affiliate firm.

Treasury Under Secretary Brian E. Nelson stated that Iran’s Central Bank has supported Iran’s Islamic Revolutionary Guard and Hezbollah, aiming to destabilize the Middle East.

The sanctions aim to disrupt Iran’s attempts to acquire sensitive U.S. technology, blocking access to U.S. property and bank accounts, and prohibiting business dealings with Americans.

ALSO READ: Biden frustrated with Netanyahu

Previous Story

Biden halts Palestinian deportations citing Gaza situation

Next Story

Demolition of activist’s home sparks US rebuke against Israel

Latest from -Top News

Jaffar Express Targeted Yet Again

blast happened at a distance of one kilometre from the Sultan Kot railway station….reports Asian Lite News At least seven injured as blast hits Quetta-bound Jaffar Express in Sindh’s Shikarpur district. Shikarpur

India to Join G20 Energy Talks in South Africa

The meeting is being hosted under South Africa’s G20 Presidency in the country’s KwaZulu Natal province…reports Asian Lite News Union Power Minister Manohar Lal will represent India at the G20 Energy Transitions

One Year On, Where Is Bangladesh Headed?

Since taking charge as head of the interim government, Nobel Laureate Yunus Mohammed pledged reform — promising fair elections and transparent governance. A year on, those promises remain unfulfilled….writes Ashok Parameswar Did

India Reminds World of Pakistan’s 1971 Crimes

The reminder of Pakistan’s atrocities in Bangladesh came as the Dakha regime led by Mohammad Yunus responded to Islamabad’s overtures….reports Asian Lite News India has reminded the world of Pakistan’s campaign of
Go toTop

Don't Miss

Iran Sets Presidential Election for June 28

During the meeting, the participants also set the schedule for

Trump’s Dealmaker in Saudi for Controversial Gaza Plan

A key agenda item for Rubio was promoting Trump’s Gaza