WASHINGTON – Today
the President signed an Executive Order (E.O.), “Prohibiting Certain
Transactions with and Suspending Entry into the United States of Foreign
Sanctions Evaders with Respect to Iran and Syria,” providing the U.S. Treasury
Department with a new authority to tighten further the U.S. sanctions on Iran
This E.O. targets foreign
individuals and entities that have violated, attempted to violate, conspired to
violate, or caused a violation of U.S. sanctions against Iran or Syria, or that
have facilitated deceptive transactions for persons subject to U.S. sanctions
concerning Syria or Iran. With this new authority, Treasury now has the
capability to publicly identify foreign individuals and entities that have
engaged in these evasive and deceptive activities, and generally bar access to
the U.S. financial and commercial systems.
“The foreign sanctions evaders E.O.
provides Treasury additional means to impose serious consequences on foreign
persons who seek to evade our sanctions and undermine international efforts to
bring pressure to bear on the Iranian and Syrian regimes. Whoever tries to
evade our sanctions does so at the expense of the people of Syria and Iran, and
they will be held accountable,” said Under Secretary for Terrorism and
Financial Intelligence David S. Cohen.
Upon Treasury’s identification and
listing of a foreign sanctions evader, U.S. persons will generally be
prohibited from providing to, or procuring from, the sanctioned party goods,
services, or technology, effectively cutting the evader off from the U.S.
marketplace. This provides Treasury with a powerful new tool to prevent, deter,
and respond to the risks posed by sanctions evaders to the U.S. and global
financial system. It also will help prevent U.S. persons from unwittingly
engaging in transactions with foreign individuals and entities that pose a
particular risk of running afoul of U.S. sanctions concerning Iran or
The foreign sanctions evaders E.O.
is the latest in a broad-based and escalating series of steps taken by the
United States and its international partners targeting the governments of Iran
and Syria with respect to their abuse of human rights, support for terrorism,
and proliferation and development of weapons of mass destruction. The foreign
sanctions evaders E.O. follows by one week the Executive Order Blocking The
Property And Suspending Entry into the United States of Certain Persons with
Respect to Grave Human Rights Abuses by the Governments of Iran and Syria via
Information Technology (the “GHRAVITY E.O.”), which targeted the provision and
use of information and communications technology to facilitate computer or
network disruption, monitoring, or tracking that could assist in or enable
serious human rights abuses by or on behalf of the Government of Iran or the
Government of Syria.
The United States has already
blocked (i.e., frozen) property and interests in property of the Government of
Iran, its agencies and instrumentalities, and all Iranian financial
institutions, including the Central Bank of Iran. In all, the Treasury
Department has announced over 400 Iran-related designations and identifications
of individuals and entities supporting various illicit actions of the
Government of Iran, including human rights abuses, support for terrorism, and
WMD proliferation. For more information, please see http://www.treasury.gov/ofac.
Similarly, the Administration has
blocked the property and interests in property of the Government of Syria and
its agencies and instrumentalities, including the Central Bank of Syria.
The Treasury Department also has designated major Syrian financial
institutions, including the Commercial Bank of Syria. In all, the Treasury
Department has designated more than 60 individuals and entities supporting
Syria’s human rights abuses and other repressive policies. For more
information, please see http://www.treasury.gov/ofac.