The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on the Governor and a senior official of the Central Bank of Iran, an Iraq-based bank and its chairman, and a key Hizballah official, all of whom have moved millions of dollars on behalf of the Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) to Hizballah.

They were designated as Specially Designated Global Terrorists (SDGTs) pursuant to Executive Order (E.O.) 13224, which targets terrorists and those providing support to terrorists or acts of terrorism.

“Iran’s Central Bank Governor covertly funneled millions of dollars on behalf of the IRGC-QF through Iraq-based al-Bilad Islamic Bank to enrich and support the violent and radical agenda of Hizballah.  It is appalling, but not surprising, that Iran’s senior-most banking official would conspire with the IRGC-QF to facilitate funding of terror groups like Hizballah, and it undermines any credibility he could claim in protecting the integrity of the institution as a central bank governor,” said Treasury Secretary Steven T. Mnuchin.

“The United States will not permit Iran’s increasingly brazen abuse of the international financial system.  The global community must remain vigilant against Iran’s deceptive efforts to provide financial support to its terrorist proxies.”

Today’s action cuts off Iran’s use of a critical banking network and follows last Thursday’s disruption of an IRGC-QF-associated currency exchange network procuring millions of dollars through the UAE.  Both actions seek to stifle Iran’s ability to abuse the U.S. and regional financial systems.  These actions continue the aggressive campaign against the IRGC and its proxies that the Treasury Department has led under this Administration.

These actions build upon President Trump’s May 8 decision to cease the United States’ participation in the Joint Comprehensive Plan of Action (JCPOA) and begin reimposing U.S. sanctions that had been lifted under the JCPOA, including against the Central Bank of Iran.

The IRGC-QF was designated pursuant to E.O. 13224 on October 25, 2007.  The IRGC-QF’s parent organization, the Islamic Revolutionary Guard Corps (IRGC) itself was also designated on October 13, 2017 pursuant to E.O. 13224 for its support to the IRGC-QF, and consistent with the Countering America’s Adversaries Through Sanctions Act.

Hizballah was designated by the Department of State as a Foreign Terrorist Organization in October 1997 and as an SDGT pursuant to E.O. 13224 in October 2001.  It was listed in January 1995 in the Annex to E.O. 12947, which targets terrorists who threaten to disrupt the Middle East peace process, and also designated in August 2012 pursuant to E.O. 13582, which targets the Government of Syria and its supporters.

Iran’s Central Bank Governor and a Senior Staff Officer

OFAC is designating Valiollah Seif, Iran’s Central Bank Governor, for assisting, sponsoring, or providing financial, material, or technological support for, or financial or other services to or in support of, the IRGC-QF.  Seif has conspired with the IRGC-QF to move millions of dollars through the international financial system in a variety of foreign currencies to allow the IRGC­QF to fund its activities abroad.  Seif has also supported the transfer of IRGC-QF-associated funds to al-Bilad Islamic Bank, an Iraq-based bank which is also being designated today.

OFAC also is designating Ali Tarzali, the assistant director of the International Department at the Central Bank of Iran, for assisting, sponsoring, or providing financial, material, or technological support for, or financial or other services to or in support of, the IRGC-QF.  Tarzali has worked with Hizballah and proposed that the terrorist group send funds through Iraq-based al-Bilad Islamic Bank.

As a result of today’s actions, Veifollah Seif and Ali Tarzali are subject to secondary sanctions pursuant to the Iranian Financial Sanctions Regulations (IFSR), which implement, among other authorities, the Comprehensive Iran Sanctions and Divestment Act of 2010 (CISADA).  Pursuant to the IFSR, OFAC can prohibit or impose strict conditions on the opening or maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution that knowingly facilitates a significant transaction for designated agents or affiliates of the IRGC or persons designated pursuant to E.O. 13224 in connection with Iran’s support for international terrorism or E.O. 13382 in connection with Iran’s proliferation of weapons of mass destruction and their means of delivery.

Today’s designations of Valiollah Seif, Iran’s Central Bank Governor, and Ali Tarzali, assistant director of the International Department at the Central Bank of Iran, do not extend to the Central Bank of Iran.  However, due to President Trump’s May 8, 2018 decision to cease the United States’ participation in the JCPOA, as of August 7, 2018, the United States Government will re-impose sanctions that extend to certain transactions with the Central Bank of Iran, including sanctions on the purchase or acquisition of U.S. dollars banknotes by the Government of Iran.  Furthermore, on November 5, 2018, additional sanctions will be re-imposed on persons knowingly engaging in certain significant transactions with the Central Bank of Iran.

Al-Bilad Islamic Bank and Its Chairman and Chief Executive

OFAC is designating Aras Habib, the Chairman and Chief Executive of Al-Bilad Islamic Bank, for assisting, sponsoring, or providing financial, material, or technological support for, or financial or other services to or in support of, the IRGC-QF.  Aras Habib enabled the IRGC-QF’s exploitation of Iraq’s banking sector to move funds from Tehran to Hizballah, jeopardizing the integrity of the Iraqi financial system.  Habib, who has a history of serving as a conduit for financial disbursements from the IRGC-QF to Iranian-backed Iraqi groups, has also helped provide IRGC-QF financial support to Lebanese Hizballah.  Al-Bilad Islamic Bank is being designated for being owned or controlled by Aras Habib.

As a result of today’s actions, Aras Habib and Al-Bilad Bank are subject to secondary sanctions pursuant to the IFSR, which implement, among other authorities, CISADA.  Pursuant to the IFSR, OFAC can prohibit or impose strict conditions on the opening or maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution that knowingly facilitates a significant transaction for designated agents or affiliates of the IRGC or persons designated pursuant to E.O. 13224 in connection with Iran’s support for international terrorism or E.O. 13382 in connection with Iran’s proliferation of weapons of mass destruction and their means of delivery.

Hizballah Official Working with IRGC-QF

OFAC is designating Muhammad Qasir (Qasir) for acting for or on behalf of Hizballah.  Qasir acted as a critical conduit for financial disbursements from the IRGC-QF to Hizballah.  Qasir has worked with the IRGC-QF to transfer funds.

Qasir is subject to secondary sanctions pursuant to the Hizballah Financial Sanctions Regulations, which implements the Hizballah International Financing Prevention Act of 2015.  Pursuant to this authority, OFAC can prohibit or impose strict conditions on the opening or maintaining in the United States of a correspondent account or a payable-through account by a foreign financial institution that knowingly facilitates a significant transaction for Hizballah, or a person acting on behalf of or at the direction of, or owned or controlled by, Hizballah.

Identifying information on the individuals and entities designated today.

(Source: U.S. Department of the Treasury)

By Mustafa Saadoun for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. 

The conflict between the United States and Iran has taken a new turn toward escalation against the Iranian-backed armed Shiite factions in Iraq. But this step might harm Washington’s interests in Baghdad and engage the Iraqi government in a crisis with the Popular Mobilization Units (PMU).

While Iraqi Prime Minister Haider al-Abadi is trying to strike a balance to tame armed Shiite factions and earn US support, Washington is seeking to add armed factions affiliated with the PMU to the list of terrorist organizations.

The US House of Representatives introduced a bill in early November called “Iranian Proxies Terrorist Sanctions Act of 2017,” which calls for imposing terrorism-related sanctions on Harakat Hezbollah al-Nujaba and Asaib Ahl al-Haq. The bill was referred Nov. 3 to the Foreign Affairs committee.

Before Harakat Hezbollah al-Nujaba was formed in 2013, the United States designated its leader Akram al-Kaabi as a terrorist in 2008 per Executive Order No. 13438, on the grounds of “causing chaos in Iraq and threatening the stability and security of the alliance forces which were in Iraq before retreating completely in 2011.”

Harakat Hezbollah al-Nujaba was blacklisted less than a month after spokeswoman for the US State Department Heather Nauert described Abu Mahdi al-Muhandis, the deputy commander of the PMU, as a terrorist.

After Muhandis, Harakat Hezbollah al-Nujaba and Asaib Ahl al-Haq were blacklisted, statements of various US Congress members indicated that the United States intends to designate additional Shiite factions as terrorist organizations.

While a harsher tone is being adopted in Iraqi statements against Washington, member of the parliamentary Foreign Affairs Committee Hanan al-Fatalawi called on the Iraqi Foreign Ministry Nov. 17 to summon the US ambassador to Baghdad to find out the reasons behind “the future US war” on the PMU.

The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has taken action targeting Salim Mustafa Muhammad al-Mansur (Mansur), an Islamic State of Iraq and Syria (ISIS) finance emir.

Mansur was designated as a Specially Designated Global Terrorist pursuant to Executive Order 13224 for acting for or on behalf of ISIS. As a result of today’s designation, all property and interests in property of Mansur subject to U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in transactions with him.

The Treasury Department continues in its determined efforts to disrupt ISIS’s financial networks regardless of geographic location.  Treasury has an unwavering dedication to safeguard the United States and international financial systems from exploitation by ISIS.

The designation also highlights the U.S. government’s continued commitment to work in concert with the Government of Iraq, which has also taken steps under its domestic authorities to bar Mansur from the Iraqi financial system and freeze any assets he may have subject to Iraq’s jurisdiction.

OFAC Director John E. Smith said:

“Treasury continues to work in close collaboration with the Government of Iraq to dismantle ISIS financial networks both inside and outside of ISIS-controlled territory … This action underscores the United States’ resolve to work with international partners to further restrict ISIS’s ability to abuse the U.S. and Iraqi financial systems.”

Mansur’s involvement with ISIS and its predecessor, al-Qa’ida in Iraq (AQI), dates back to at least late 2009 when Mansur was an AQI commander involved in fundraising activities to support terrorism in Iraq.

In early 2014, Mansur was involved in moving hundreds of thousands of Iraqi dinars to ISIS in Mosul.  In addition, in 2015, he laundered and transferred money on behalf of ISIS, and as of mid-2016, he was responsible for selling crude oil that ISIS extracted from oil fields in Iraq and Syria.  As of early 2017, Mansur was an ISIS finance emir for Mosul who had moved to Turkey.

For identifying information on the individual designated today, click here.

(Sources: OFAC, CBI)

America: may impose sanctions on individuals and companies Russian and Chinese Press direction / follow-up US officials said the United States is considering to impose sanctions on individuals and companies because of Russian and Chinese cyberattacks on US commercial goals.…

By John Lee.

A report from the Financial Times claims that an Iraqi company has helped to Iran acquire nine large commercial aircraft, in defiance of international sanctions.

According to the report, Iran’s Mahan Air, which is blacklisted by the US and Europe because of alleged links to Iran’s revolutionary guard — allegations denied by the airline — used the small Iraqi Al-Naser Airlines as a front to buy more aircraft worth more than $300-million.

Al-Naser denies the allegation. Eyad Abdelkarim, head of marketing for Al-Naser, told the FT:

“I don’t have any information about this … This is some kind of propaganda … There is no truth to the information you have received.”

Until 2014, Al-Naser was owned by Iraq’s powerful al-Khawam family, as part of their Riyadh Investment Group. It was then sold to Firas al-Mayyali, who is involved in foreign exchange trading in Baghdad.

(Source: Financial Times)

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Fourteen companies including Renault Trucks, Legrand and Schneider Electric stand trial, accused of breaching the embargo on Saddam Hussein’s Iraq in the 1990s:

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Fourteen companies including Renault Trucks, Legrand and Schneider Electric stand trial, accused of breaching the embargo on Saddam Hussein’s Iraq in the 1990s:

From AFP. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Fourteen companies including Renault Trucks, Legrand and Schneider Electric stand trial, accused of breaching the embargo on Saddam Hussein’s Iraq in the 1990s: