Regulatory intelligence for US exporters

OFAC Sanctions Companies Helping to Finance Iran, Hezbollah

The U.S. this week sanctioned three entities and one person for providing “critical” funding to Iran’s Islamic Revolutionary Guard Corps-Qods Force and Hezbollah financial network, including by generating hundreds of millions of dollars from sales of Iranian commodities to the Syrian government and elsewhere.

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The designations target Turkey-based Mira Ihracat Ithalat Petrol and its CEO, Ibrahim Talal al-Uwayr, for buying, moving and selling Iranian goods on the global market. OFAC said profits from those sales are shared with Hezbollah.

The agency also sanctioned Lebanon-based Yara Offshore SAL, another Hezbollah-affiliated company that has used sanctioned ships to sell Iranian goods to Syria, and Lebanon-based Hydro Company for Drilling Equipment Rental for financing the IRGC-QF. OFAC said the company also helps ship Iranian goods to Syria.