The U.S. Treasury Department announced on Wednesday that Washington has imposed sanctions on three entities and one individual in Lebanon and Turkey "for providing significant financial support" to a financial network relied upon by Iran's Quds Force and the Lebanese group "Hezbollah."
The statement mentioned that sanctions were imposed on two Lebanese companies, Hydro Equipment Rental and Yara Offshore. It added that these entities "earned hundreds of millions of dollars in revenue from selling Iranian raw materials, including to the Syrian government."
The Department also pointed out in a post on its website that "the United States issued new sanctions related to Iran, Myanmar, and Sudan."
The Treasury Department sanctioned the Turkey-based company Mira, which purchases, transports, and sells Iranian goods in the global market, along with its CEO and owner, Ibrahim Talal Al-Oweir, also known as Ibrahim Agaoglu.
The sanctions target two entities based in Lebanon: Yara Offshore, affiliated with Hezbollah, which facilitated large sales of Iranian raw materials to Syria, and Hydro Equipment Rental, which is involved in financing the Quds Force of the Iranian Revolutionary Guard by facilitating the shipment of Iranian raw materials worth hundreds of millions of dollars to Syria.
The sanctions freeze all property of the designated individuals and entities in the U.S. or under the control of U.S. persons. U.S. regulations generally prohibit American individuals from dealing with the properties of designated or blocked persons. Additionally, non-U.S. financial institutions and others engaging in certain transactions with sanctioned individuals may also face potential sanctions or law enforcement actions.
