November 18, 2020

Eleven individuals and dozens of companies designated pursuant to Iran-related sanctions

On November 18, 2020, the Office of Foreign Assets Control of the US Department of the Treasury announced the designation of eleven individuals, fifty-three entities, and one cargo vessel pursuant to Executive Order 13876 for their support of the Supreme Leader of Iran.

As described by OFAC, the Islamic Revolution Mostazafan Foundation, also known as Bonyad Mostazafan, is an economic conglomerate controlled by Iran’s Supreme Leader, with interests in the energy, mining, information technology, financial services and logistics sectors of the Iranian economy.  The individuals designated include:

  • Parviz Fattah, the president of Bonyad Mostazafan, who has served as an officer in the Islamic Revolutionary Guard Corp. and who was designated previously pursuant to Executive Order 13382;
  • Mahmoud Alavi, the Iranian Minister of Intelligence, whose ministry was designated in 2012 pursuant to Executive Order 13553 for human rights abuses;
  • Three members of the board of directors or senior executive officers of Bonyad Mostazafan, and;
  • Senior executives of banks and commercial enterprises designated for being owned or controlled by Bonyad Mostazafan.

The entities designated include dozens of companies owned or controlled by Bonyad Mostazafan and its subsidiaries.

In addition to these designations by OFAC, the US Department of State has designated Heidar Abaszadeh and Reza Papi, Brigadier General and Colonel in the IRGC, respectively, pursuant to Section 7031(c) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2020, for their involvement in gross violations of human rights.  Individuals designated under this provision are not eligible to enter the United States; nor are their immediate family members.

As a result of the Treasury Department sanctions, US property of the designated persons is blocked, and US persons are generally prohibited from dealing with such property.  In addition, foreign financial institutions that knowingly facilitate a significant transaction for the designated persons may be subject to US correspondent account or payable-through sanctions.

US Dept of the Treasury press release | US Dept of State press release