Latest News:  


U.S. imposes sanctions on Iran-controlled companies


08:26, June 05, 2013

WASHINGTON, June 4 (Xinhua) -- The United States on Tuesday slapped sanctions on a group of front companies allegedly controlled by Iran's leadership.

The Department of Treasury said the Execution of Imam Khomeini' s Order (EIKO) and the 37 companies it oversees on behalf of the Iranian government operate in various sectors of the Iranian economy and around the world, generating billions of dollars in profits for the Iranian government each year.

"In addition to generating revenue for the Iranian leadership, EIKO has been tasked with assisting the Iranian government's circumvention of U.S. and international sanctions," the department said in a statement.

"Even as economic conditions in Iran deteriorate, senior Iranian leaders profit from a shadowy network of off-the-books front companies," the Treasury's Under Secretary for Terrorism and Financial Intelligence David Cohen was quoted as saying.

The sanctions against the companies, which spread across the world, bar American citizens and companies from doing business with them. And foreign financial institutions dealing with them risk being denied access to the U.S. financial system.

A day earlier, President Barack Obama signed a new executive order authorizing sanctions against Iran's currency and its auto industry in his administration's continuous efforts to force the Islamic republic to stop its uranium enrichment activities, which the West suspects are used to produce nuclear weapons.

Iran has denied the charge, insisting on the peaceful nature of its nuclear program.

We recommend:

Photo of the innocent childhood

17th Gay Pride Parade held in Sao Paulo

Polar bear Inuka into new enclosure in Singapore Zoo

'50th Madaraka Day marked in Kenya

International Children's Day marked around world

Sudden rain hits Hyderabad, India

Email|Print|Comments(Editor:LiangJun、Yao Chun)

Related Reading

Leave your comment0 comments

  1. Name


Selections for you

  1. PLA cadets in actual combat exercises test

  2. Female naval soldiers to implement duties

  3. Palestinian girls read Quran in Gaza City

  4. Ducks trigger copyright fears

  5. Police helicopter crash kills 2 in NW China

  6. Death toll rises to 120 in NE China fire

  7. Top ten stars with best figure

  8. Series uncovers Peking Opera

  9. Digital currency bitcoin gains virtual interest

  10. 3D printing gallery opens in Chongqing

Most Popular


  1. China not to tolerate rogue act on S. China Sea
  2. Imaginaion: essential for cultural confidence
  3. How ZTE is winning the US market
  4. Global IT and techno-jingoism
  5. Copycats stifle Chinese innovation
  6. How to improve the job market
  7. Paying premium for manhole covers
  8. China is losing top talents in the world
  9. Exit from QE in U.S. not to be a problem
  10. Yuan may continue to appreciate

What’s happening in China

Ducks trigger copyright fears

  1. Heavy rainfall hits Nanning
  2. Death toll from poultry plant fire remains 119
  3. Work groups to counsel fire-bereaved families
  4. Melting snow-triggered flood traps five in Xinjiang
  5. SW China factory's butane fire injures 2