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US targets assets of Iranian leadership
WASHINGTON, June 4 (KUNA) -- The US took action here Tuesday to expose a "major network of front companies" controlled by the Iranian leadership.
The Department of Treasury said that the Execution of Imam Khomeini's Order (EIKO), through two main subsidiaries, "oversees a labyrinth of 37 ostensibly private businesses, many of which are front companies." It added that the purpose of this network is "to generate and control massive, off-the-books investments, shielded from the view of the Iranian people and international regulators."
EIKO and its subsidiaries "work on behalf of the Iranian Government and operate in various sectors of the Iranian economy and around the world, generating billions of dollars in profits for the Iranian regime each year," the Treasury affirmed.
EIKO and the 37 companies identified today are subject to sanctions pursuant to Executive Order 13599, which blocks the property of the Government of Iran. Undersecretary for Terrorism and Financial Intelligence David said in a statement in this regard "even as economic conditions in Iran deteriorate, senior Iranian leaders profit from a shadowy network of off-the-books front companies."
"While the Iranian government's leadership works to hide billions of dollars in corporate profits earned at the expense of the Iranian people, Treasury will continue exposing and acting against the regime's attempts to evade our sanctions and escape international isolation," he stressed.
The Treasury indicated that "in addition to generating revenue for the Iranian leadership," EIKO has "been tasked with assisting the Iranian Government's circumvention of US and international sanctions." "Because of this unique mission, EIKO has received all of the funding it needs to facilitate transactions through its access to the Iranian leadership," it noted. (end)
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WASHINGTON, June 4 (KUNA) -- The US took action here Tuesday to expose a "major network of front companies" controlled by the Iranian leadership.
The Department of Treasury said that the Execution of Imam Khomeini's Order (EIKO), through two main subsidiaries, "oversees a labyrinth of 37 ostensibly private businesses, many of which are front companies." It added that the purpose of this network is "to generate and control massive, off-the-books investments, shielded from the view of the Iranian people and international regulators."
EIKO and its subsidiaries "work on behalf of the Iranian Government and operate in various sectors of the Iranian economy and around the world, generating billions of dollars in profits for the Iranian regime each year," the Treasury affirmed.
EIKO and the 37 companies identified today are subject to sanctions pursuant to Executive Order 13599, which blocks the property of the Government of Iran. Undersecretary for Terrorism and Financial Intelligence David said in a statement in this regard "even as economic conditions in Iran deteriorate, senior Iranian leaders profit from a shadowy network of off-the-books front companies."
"While the Iranian government's leadership works to hide billions of dollars in corporate profits earned at the expense of the Iranian people, Treasury will continue exposing and acting against the regime's attempts to evade our sanctions and escape international isolation," he stressed.
The Treasury indicated that "in addition to generating revenue for the Iranian leadership," EIKO has "been tasked with assisting the Iranian Government's circumvention of US and international sanctions." "Because of this unique mission, EIKO has received all of the funding it needs to facilitate transactions through its access to the Iranian leadership," it noted. (end)
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