The United States president’s administration has on Tuesday imposed sanction over Iranian-liked company that has invested $1 billion to Iran’s remote port in Chabahar, calling it a violation of the US sanctions on Iran.
According to Dawn news reports, Donald Trump’s treasury department said it has hit the Iranian government agencies, firms and a “vast network” of 25 people with sanctions for avoiding penalties which Washington has imposed last year after withdrawing itself from the 2015 Iran nuclear deal.
The action has identified four entities in the United Arab Emirates (UAE), Iran and Turkey funding amounts Iran’s Ansar Bank, funnelling funds to Iranian revolutionary guard corps and linked to a violation of US sanctions.
In a statement, Treasury said, “We are targeting a vast network of front companies and individuals located in Iran, Turkey, and the UAE to disrupt a scheme the Iranian regime has used to illicitly move more than a billion dollars in funds.”
Treasury on Monday, renewed warnings to port operators and international shipping, informing them of possible US sanctions if allows any Iranian tankers into their facilities.
Treasury’s move has come as Trump’s administration hiked what it calls a “maximum pressure” campaign against Tehran focused over denying its revenue from oil exports.