October 30, 2019

US and six Middle East countries announce Iran-related designations

The US Department of the Treasury, jointly with the other six members of the Terrorist Financing Targeting Center (TFTC), designated twenty-five entities and individuals associated with Iran.  The move, which represents the largest joint designation of the TFTC to-date, targets entities that support the Islamic Revolutionary Guard Corps (IRGC) and Hizballah.  

The TFTC named twenty-one businesses for providing financial support to the Basij Resistance Force, a paramilitary force under the command of the IRGC. The Basij companies were designated by the Office of Foreign Assets Control in October 2018 pursuant to Executive Order 13224.  The four individuals named by the TFTC are alleged to lead Hizballah’s operational, intelligence and financial activities in Iraq.  The four were designated by OFAC in November 2018 pursuant to Executive Order 13224.

Members of the TFTC include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates and the United States.

US Dept. of the Treasury press release