On Wednesday, the Office of Foreign Assets Control (OFAC) inside the U.S. Treasury issued sanctions against Iran’s Islamic Revolution Mostazafan Foundation (Bonyad Mostazafan). They said that rather than being a charitable organization, it is “an immense conglomerate” with 160 holdings in the sectors of finance, energy, construction, logistics, information technology, and mining, which Supreme Leader Ali Khamenei uses to enrich his office and his allies, as well as punish dissidents.
“Iran’s Supreme Leader uses the Bonyad Mostazafan Foundation to reward his allies under the pretense of charity. The United States will continue to target key officials and revenue-generating sources that enable the regime’s ongoing repression of its own people,” Secretary Steven T. Mnuchin said.
It and its entities were designated under Executive Order 13876, which targets Iran’s Supreme Leader and his office.
What Entities Are Involved?
Sina Energy Development Company (SEDCO) and its subordinate companies:
- Payandan Company
- Coal Tire Refining Company
- Pishro Iran Financial and Investment Company
- Pars Energy-Gostar Drilling and Exploration
- North Drilling Company
Behran Oil and its subsidiary companies:
- Beh Tam Ranakar Company
- Behran Trading Company
- Tabchem Chemical Industries
Kaveh Pars Mining Industries Development Company (KMID) and its subordinate companies:
- Pars Sarralle Company
- Damavand Mining
- Tehran Cement Company
- Kaveh Khozestan Aluminum Company
- Arvand Kaveh Steel Co.
- Kaveh Shargh Steel Co.
- South Kaveh Steel Co.
- International Trade & Industrial Technology ITRITEC GmbH
- Turira Company
- Somic Engineering and Management Co
- Tehran International Transport Co
- Pishgaman Horizon Development Iranian Business Trading Company
- Sina Financial and Investment Holding Company
Bank Sina and its subsidiary:
- Sina Currency Exchange Company
- Omran va Maskan Iran Company
- Paya Saman
Pars Company and its subordinate companies:
- Raman Company
- Melli Sakhteman Company
- Day Company
- Taloon Company
Parsian Tourism and Recreational Centers Company and its subordinate companies:
- Sina Port and Marine Services Development Company
- Bonyad Shipping Agencies Company
- Bonyad Eastern Railway Company
- Sina Pars Rail Company
Sina Paya Sanat Development Co. and its subordinate companies:
- Sanati Doodeh Fam Company
- Shisheh va Gas Industries Group
- Iran Tire Manufacturing Company
- North Wood Industry Company
- Selkbaf Co, Aliaf Company
- Hejab Textile Company
- Sina Tile and Ceramic Industries Company
- Pars Tile Company
Iran Electronic Development Company (IEDC)
Rah Negar Middle East Pars Company
Peyvand Tejarat Atieh Iranian Company
Meanwhile, OFAC designated Iranian Intelligence Minister Mahmoud Alavi for the key role that his ministry has played in the abuses of the Iranian people’s human rights, particularly during the November 2019 protests.
Other people being designated include:
- Bonyad Mostazafan Foundation president Parviz Fattah
- Bonyad Mostazafan Foundation deputies Amir-Mansour Borghei, Javad Ghana’at, Khosro Mokhtari, and Mohammad-Ali Yazdan Joo
- SEDCO’s managing director Javad Oji
- KMID’s managing director Seyyed Mohammad Atabak
- Sina Financial’s Mohammad Eskandari and Mohsen Alikhani
- Sina Bank’s Seyyed Zia Imani
- IRGC Brigadier General Heidar Abbaszadeh
- IRGC Colonel Reza Papi
“As a result of today’s action, all property and interests in property of the persons designated above for blocking sanctions must be blocked and reported to OFAC if their property or interests in property are in the United States or in the possession or control of U.S. persons,” the statement read.
“In addition, persons that engage in certain transactions with the individuals or entities designated today may themselves be exposed to sanctions. Furthermore, any foreign financial institution that knowingly facilitates a significant transaction or provides significant financial services for any of the persons designated today could be subject to U.S. correspondent account or payable-through account sanctions,” U.S. Treasury Department added in its statement.