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US Sanctions 36 Iran-Linked Targets Under ‘Economic D-Day’ Campaign

Washington: The US Treasury Department announced Tuesday that it imposed sanctions on 36 targets linked to Iran's aviation sector, including 27 airlines, accusing the sector of facilitating the movement of weapons, personnel, and illicit cargo.

According to Anadolu Agency, the action, carried out under the Treasury's 'Operation Economic Outcast,' includes sanctions against Iran's remaining active airlines, as well as companies and intermediaries accused of helping Tehran acquire US-origin aircraft and aviation technology.

US Treasury Secretary Scott Bessent stated that the measures were intended to cut financial lifelines supporting the Iranian government. He also warned companies doing business with sanctioned Iranian airlines that they could face exclusion from the global financial system.

The Treasury Department further indicated that the Office of Foreign Assets Control (OFAC) is also targeting third-country firms involved in activities supporting sanctioned Iranian aviation operations.

In a related move, the Financial Crimes Enforcement Network (FinCEN) issued an alert urging financial institutions to identify and report suspicious transactions linked to Iran's procurement of commercial aircraft and aircraft parts.

Iranian aviation networks have reportedly used front companies, intermediaries, and complex transshipment routes across Europe, the Middle East, Africa, and Asia to obscure the ultimate Iranian recipients of aircraft, components, and other aviation-related goods, according to the Treasury Department.

Additionally, the agency announced the suspension of three aviation-related authorizations concerning Iran, including provisions related to overflights and the operation of certain US-origin or US-controlled commercial aircraft into Iran. Requests related to aviation safety will be considered on a case-by-case basis.

The Treasury Department emphasized that these measures build on sanctions imposed earlier this year and are part of a broader campaign announced in August to isolate Iran from the international financial system. Assets and interests in property belonging to designated persons within US jurisdiction are blocked under the new measures. US persons are generally prohibited from conducting transactions involving them unless authorized by OFAC.