US Sanctions Target Iran’s Ballistic Missile and Nuclear Programs, Human Rights Abuses, and Support for Terrorism

The United States has taken a bold step in curbing Iran’s harmful activities by imposing various economic sanctions on Tehran. The targeted measures aim to disrupt Iran’s ballistic missile and nuclear programs, human rights abuses, and support for global terrorism.

Sanctions Against Key Entities

As part of these efforts, the Treasury Department has designated several entities under Executive Order 13224 for providing material support to terrorist groups, including:

Islamic Revolutionary Guard Corps (IRGC) and its Qods Force (IRGC-QF): The IRGC-QF was also designated a Foreign Terrorist Organization (FTO) by the State Department in April 2019.
Ansar Bank: An Iranian bank controlled by the IRGC, and its currency exchange arm, Ansar Exchange, for providing banking services to the IRGC-QF.
South Wealth Resources Company (SWRC): An Iraq-based financial conduit used by the IRGC-QF to traffic hundreds of millions of dollars’ worth of weapons to militias.

Disrupting Iran’s Funding Networks

The sanctions have focused on disrupting Iran’s ability to fund its nefarious activities, including a large-scale currency exchange network that transferred millions of dollars to the IRGC-QF. In May 2018, the US and UAE took joint action to disrupt this network, which was linked to key Central Bank of Iran (CBI) officials.

Additional Designations

Iran’s activities have not been limited to the Middle East. In October 2011, Treasury sanctioned four senior IRGC-QF officers and a naturalized US citizen for plotting to assassinate the Saudi Arabian Ambassador to the United States.

The sanctions are also aimed at curtailing Iran’s support for terrorist groups, including:

Hizballah: Responsible for the most American deaths by terrorism prior to the September 11 attacks. The US has designated Hizballah a terrorist organization and has targeted its financial networks, including those linked to Ansar Bank.

Consequences for Iran’s Economy

The sanctions have had significant consequences for Iran’s economy, with many Iranian banks facing difficulties in conducting international transactions. The Treasury Department has also worked closely with foreign governments to disrupt Iran’s ability to access the global financial system.

Response from Iran

In response to these sanctions, Iran has threatened retaliation against the US and its allies. However, the US government remains committed to holding Tehran accountable for its destructive activities and will continue to impose targeted sanctions until it changes its behavior.

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