US attempts to neutralize Iran’s nuclear threat
New sanctions were imposed on two major Iranian companies by the US Department of Treasury.
The companies affected are: Tidewater MiddleEast Co. a port operator and Iran Air a commercial airline.
Iran’s Islamic Revolutionary Guard Corps (IRGC) owns Tidewater and uses Iran Air to transport military related equipment. Tidewater managed ports are a crucial component of Iran’s infrastructure and transport network.
The IRGC is the focus of many international sanctions because of its central role in nuclear and ballistic missile programmes, terrorism and human rights abuses, according to US officials.
Continued international sanctions demonstrate the escalating threat that Iran poses in the Middle East and beyond.
“Preventing Iran from developing nuclear weapons is a top US government priority and we remain deeply concerned about Iran’s nuclear intentions” said Hillary Clinton US Secretary of State. “The steps we have taken this week seek to limit Iran’s ability to use the global financial system to pursue illicit activities."
Risk managers need to know if their companies, suppliers or subsidiaries are implicated in the increasing number of sanctions in the Middle East region.
Tidewater ports include Bandar Abbas’s main container terminal Shahid Rajaee which has been used to export arms that violate UN regulations.
Iran Air has a fleet of approximately 40 aircraft covering 35 international and 25 domestic destinations.
Iran Air has shipped military-related equipment on behalf of the IRGC since 2006.
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