🔻US Treasury issues renewed warning to companies that still have dealings with Iran

🔻US Treasury issues renewed warning to companies that still have dealings with Iran

The U.S. Treasury’s Office of Foreign Assets Control (OFAC), in a new statement, has once again threatened companies and economic entities that continue to have commercial and financial ties with Iran with “punitive action without prior notice.”

In its statement released on Monday, October 5 / 13 Mehr, OFAC said:

“Foreign financial institutions that continue to cooperate with Iran or Iran-related financial sectors are warned that they may be targeted for sanctions in the form of ‘economic expulsion operations.’ Foreign financial institutions that continue to carry out transactions with sanctioned Iranian financial institutions may, at any time and without notice, be targeted by U.S. sanctions.

OFAC asks these institutions to immediately take steps to end these activities and cut off their financial relationships with sanctioned counterparties.”

What the U.S. Treasury calls “economic expulsion operations” for Iran refers to a set of new measures by the Donald Trump administration, which is trying to compel this country to negotiate over its disputes with the United States by tightening the scope of Iran’s economic sanctions.