US slaps sanctions on entities for Iranian steel transactions
The US State Department is sanctioning several entities and individuals for doing steel-related business involving the Islamic Republic of Iran Shipping Lines, its subsidiaries and other Iranian shipping entities, the department said Jan. 15.
State is imposing sanctions on IRISL under the Iran Freedom and Counter-Proliferation Act for knowingly selling grain-oriented electrical steel to Hoopad Darya Shipping Agency Company, according to a statement.
Hoopad is included on the List of Specially Designated Nationals and Blocked Persons maintained by the Treasury Department’s Office of Foreign Assets Control.
“The State Department is also imposing sanctions on Mohammad Reza Modarres Khiabani, CEO of IRISL, who has been determined to be a principal executive officer, or person performing similar functions and with similar authorities, of IRISL,” the department added.
MICHAEL R. POMPEO, SECRETARY OF STATE
In June 2020, the State Department sanctioned the Islamic Republic of Iran Shipping Lines (IRISL) pursuant to Executive Order 13382 (
WMD Proliferators and Their Supporters). At that time, we underscored the fact that IRISL is the preferred shipping line for Iranian proliferators and procurement agents. We have warned industry that those who do business with IRISL, its subsidiaries, and other Iranian shipping entities, risk sanctions. Today, we are sanctioning seven entities and two individuals for such conduct.
As a part of this action, the State Department is imposing sanctions on IRISL pursuant to Section 1245(a)(1)(C)(i)(II) of the Iran Freedom and Counter-Proliferation Act (IFCA). IRISL knowingly transferred, directly or indirectly, to Iran grain-oriented electrical steel to at least one Iranian person on the List of Specially Designated Nationals and Blocked Persons maintained by the Office of Foreign Assets Control of the Depart
Those designated on Friday are Iran’s Marine Industries Organisation (MIO), Aerospace Industries Organisation (AIO) and the Iran Aviation Industries Organisation (IAIO) “for engaging in activities that materially contribute to the supply, sale or transfer, directly or indirectly, to or from Iran, or for the use in or benefit of Iran of arms or related materiel, including spare parts.”
Also designated are Islamic Republic of Iran Shipping Lines (IRISL); Hoopad Darya Shipping Agency Company; Jiangyin Mascot Special Steel Company, based in China; Iran Transfo Company; Zangan Distribution Transformer Company; and Accenture Building Materials
.
The State Department also placed sanctions on Hamidreza Azimian, chief executive of Mobarakeh Steel Company, and Mohammad Reza Modarres Khiabani, chief executive of IRISL, for their role in these offences.