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.

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.