U.S. Imposes Sanctions on Iranian Shipping Company, Affiliates

The United States has frozen the U.S.-based assets of an Iranian shipping company and banned any further transactions with the company due to its alleged support for Iran’s nuclear program.

Sanctions were placed on the Islamic Republic of Iran Shipping Lines as well as 18 of its affiliates after U.S. intelligence determined they had provided logistical support for the defense ministry of Iran.

According to a statement released by Under Secretary for Terrorism and Financial Intelligence Stuart Levey, “IRISL's actions are part of a broader pattern of deception and fabrication that Iran uses to advance its nuclear and missile programs. That conduct should give pause to any financial institution or business still choosing to deal with Iran.”

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