10 more companies added to Iran sanctions

Iran Materials 21 December 2011 10:14 (UTC +04:00)
More companies associated with the Islamic Republic of Iran Shipping Lines are now bound by U.S. sanctions.
10 more companies added to Iran sanctions

Restrictions regarding Iran are expanding, as 10 "shipping and front companies and one individual based in Malta" affiliated with the Islamic Republic of Iran Shipping Lines (IRISL) are now included in the sanctions against the Islamic Republic, according to U.S. Treasury Department, Reuters reported.

"As IRISL and its subsidiaries continue their deceptive efforts to escape the grasp of U.S. and international sanctions, we will continue to take action to expose the front companies, agents and managers working with IRISL and work to stop this illicit business," David Cohen, U.S. Under Secretary for Terrorism and Financial Intelligence, said in a statement.

The move is part of a continuing U.S. effort to stop Iran's nuclear weapons program by freezing the assets of individuals and companies that support the program and denying them access to the U.S. financial system and commercial market.

IRISL is already facing the International sanctions for its involvement in Iran's efforts to advance its missile programs and transport military cargoes, the Treasury Department said.

Jamshid Khalili, an Iranian national who is chief executive and managing director of the shipping company Irano Hind, was also designated for sanctions. Irano Hind is an IRISL-Shipping Corporation of India joint venture that is already subject to both U.S. and United Nations Security Council sanctions, the Treasury Department said.

The newly designated companies are: BIIS Maritime Limited, ISIM Amin Limited, ISIM Atr Limited, ISIM Olive Limited, ISIM Sat Limited, ISIM Sea Chariot Limited, ISIM Sea Crescent Limited, ISIM Sinin Limited, ISIM Taj Mahal Limited and ISIM Tour Limited.

Edited by: S. Isayev