US Treasury imposes sanctions on 2 companies linked to Iran-China commodity transport


(MENAFN) On Tuesday, the US Treasury Department announced the imposition of sanctions on two companies responsible for owning and operating a vessel involved in transporting commodities valued at over USD100 million from Iran's Defense Ministry to China.

The sanctioned companies, registered in Hong Kong and the Marshall Islands, are identified as the owners and operators of the Panama-flagged vessel named KOHANA. This vessel has been instrumental in facilitating the shipment of Iranian commodities to businesses located in the People’s Republic of China on behalf of Iran’s Ministry of Defense and Armed Forces Logistics (MODAFL).

According to the statement released by the Treasury Department, MODAFL plays a crucial role in coordinating the delivery of Iranian weapons, notably unmanned aerial vehicles, to Russia in support of the conflict in Ukraine. Additionally, MODAFL facilitates the supply of arms to militia groups aligned with Iran across the Middle East.

"Iran’s Ministry of Defense is engaged in a series of schemes to fund destabilizing activities that range from supplying militia groups with weapons used to attack U.S. forces to aiding Russia’s invasion of Ukraine," stated Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson. "Treasury will continue to disrupt the illicit revenue-generation efforts that support these destabilizing acts."

The sanctions reflect the US government's commitment to enforcing measures aimed at disrupting illicit activities and curbing the proliferation of weapons in regions of geopolitical concern. By targeting entities involved in facilitating such transactions, the Treasury Department aims to deter further violations of international sanctions and uphold global security interests.

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