Featured Iran

Turkey eyes US sanctions waivers on Iran oil, Russia arms

AP — Turkey “expects” the Trump administration to grant it waivers from U.S. sanctions related to its purchases of Iranian oil and Russian air defenses, a top aide to Turkish President Recep Tayyip Erdogan said Tuesday. Presidential spokesman and senior adviser Ibrahim Kalin told a news conference he couldn’t be… Read More

UniCredit to Pay $1.3 Billion, Plead Guilty to US Sanctions Violations

A UniCredit Group affiliate bank will plead guilty to US federal and state criminal violations and pay $1.3 billion to regulatory and prosecutorial agencies to resolve breaches of sanctions against Iran and other nations, officials disclosed. Under terms of a non-prosecution agreement with the US Justice Department, the group’s German… Read More

OFAC Fines UK Subsea Service Co. for Violating Cuba and Iran Sanctions

A British subsea service provider and its affiliates have agreed to improve their sanctions compliance controls and pay $441,000 for willfully violating US prohibitions on doing business with Cuban and Iranian entities. Norwich, England-based Acteon Group Ltd, its British offshore engineering subsidiary and two Malaysian affiliates will pay nearly $228,000… Read More
11th April 2019
Lebanon’s Hezbollah raised the prospect of retaliation by Iran and its allies over U.S. sanctions, saying on Wednesday that all options were on the table were Washington to take steps that “threaten our nation”. Sayyed Hassan Nasrallah, leader of the heavily armed Iranian-backed Shi’ite group, said the United States’ move… Read More
11th April 2019
Not all deferred prosecution agreements go gentle into that good night. Such at least was the lesson learned Tuesday, when Standard Chartered Bank and the US Justice Department disclosed a 2-year extension to a 7-year-old settlement that required the institution to adopt a host of remedial steps to its sanctions… Read More
10th April 2019
London-based Standard Chartered Bank will pay $1.08 billion to settle sanctions and anti-money laundering violations uncovered by US and UK investigators in a deal that will extend its deferred prosecution agreement through April 2021. Of that its total monetary outlay, $947 million will go to resolve investigations by the US… Read More
10th April 2019
Iranian Supreme Leader Ayatollah Ali Khamenei said the United States had made “a vicious move” in designating the Revolutionary Guards as a foreign terrorist organization, and Tehran vowed to take action against U.S. forces in the region. “They wish to plot against our Sepah (the Guard corps) … it is… Read More
9th April 2019
AP — President Donald Trump announced Monday that the U.S. is designating Iran’s Revolutionary Guard a “foreign terrorist organization,” in an effort to increase pressure on the country. It is the first time that the U.S. has designated a part of another country as a terrorist organization. The designation… Read More
8th April 2019
AP — The Trump administration is preparing to designate Iran’s Revolutionary Guard a “foreign terrorist organization,” an unprecedented move against a national armed force that could have widespread implications for U.S. personnel and policy in the Middle East and elsewhere. Officials informed of the step said an announcement was expected… Read More
3rd April 2019
Iranian authorities ordered the evacuation of scores of villages on Tuesday as the impact of severe flooding spread further across the country, while Washington denied Tehran’s claim that U.S. sanctions were slowing aid efforts. At least 47 people have been killed in the past two weeks from flash floods after… Read More
28th March 2019
A Luxembourg court refused on Wednesday to enforce a U.S. ruling that would have helped families of victims of the Sept. 11, 2001 attacks claim Iranian assets held with a Luxembourg-based clearing house. The court ruled that there were no grounds in international law to uphold in Luxembourg a U.S. Read More
27th March 2019
The US Treasury Department on Tuesday blacklisted 25 individuals and front companies believed to have facilitated the transfer of more than $1 billion to Iran’s military leadership in violation of sanctions. The targets of the department’s Office of Foreign Assets Control (OFAC) designations include currency exchange firms and trading… Read More
26th March 2019
South Korean government officials are expected to press for extending a sanctions waiver on Iran’s petroleum exports that expires in May on a visit to Washington this week. South Korea’s Deputy Foreign Minister for Economic Affairs Yoon Kang-hyun and other leaders will meet with U.S. State Department officials on Wednesday… Read More