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2024-04-19 11:03:32

US and UK issue new sanctions on Iran

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US and UK issue new sanctions on Iran

The U.S. and U.K. on Thursday imposed a new round of sanctions on Iran as concern grows that Tehran’s unprecedented attack on Israel could fuel a wider war in the Middle East, reports AP.

The sanctions are meant to hold Iran accountable for its weekend attack and to deter further such activity. But the practical impact is likely to be limited because many of the targeted companies already were subject to U.S. sanctions and the individuals singled out for new sanctions are unlikely to have assets in U.S. jurisdictions.

Treasury’s Office of Foreign Assets Control targeted 16 people and two entities in Iran that produce engines that power the drones used in the April 13 attack on Israel. OFAC also sanctioned five firms involved in steel production and three subsidiaries of Iranian automaker Bahman Group — which is accused of materially supporting Iran’s military and other sanctioned groups. A representative from Bahman was not immediately available for comment.

Additionally, the U.K. targeted several Iranian military branches and individuals involved in Iran’s drone and ballistic missile industries.

President Joe Biden said in a statement that he had directed U.S. Treasury “to continue to impose sanctions that further degrade Iran’s military industries.” “Let it be clear to all those who enable or support Iran’s attacks,” he said, “we will not hesitate to take all necessary action to hold you accountable.”

U.K. Prime Minister Rishi Sunak said in a statement that the sanctions “will further limit Iran’s ability to destabilize the region.”

In addition, the U.S. Commerce Department is imposing new controls to restrict Iran’s access to commercial grade microelectronics, which applies to items manufactured outside the U.S. that are produced using U.S. technology.

Bd-pratidin English/Tanvir Raihan

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