The United States Expands Sanctions Related to Iran

On Wednesday, February 14, the United States announced sanctions against a subsidiary of the Central Bank of Iran, two entities based in the United Arab Emirates, one entity based in Turkey, and three individuals for smuggling American technology. According to Reuters, the U.S. Department of the Treasury identified the subsidiary of the Central Bank of Iran as an information services company based in Iran. Brian Nelson, the Deputy Treasury Secretary for Terrorism and Financial Intelligence, stated in a statement: 'The Central Bank of the Islamic Republic plays a significant role in financially supporting the Islamic Revolutionary Guard Corps-Quds Force and Hezbollah, two key actors that aim to further destabilize the Middle East.' Nelson separately referred to the ongoing proliferation of advanced conventional weapons by the Islamic Republic as 'a critical threat to stability in the region,' stating that the United States will target illegal networks supplying parts for weapons made by the Islamic Republic and hold accountable those exporting these weapons to terrorist proxy groups. The Office of Foreign Assets Control (OFAC) of the U.S. Treasury had also announced on February 2 that it had sanctioned a network purchasing sensitive materials and technologies for the Islamic Republic's ballistic missile and drone programs. Accordingly, the U.S. sanctioned six senior members of the Cyber-Electronic Command of the Islamic Revolutionary Guard Corps, one company based in Iran, and four companies based in Hong Kong. Brian Nelson recently traveled to Baghdad in an effort to combat dollar smuggling from Iraq to Iran, where he met and discussed with Iraqi officials. Additionally, the U.S. is seeking global pressure against the Islamic Republic to stop Houthi attacks.