US Treasury Designates 20 Entities Under New Iran Sanctions, Including 4 Banks

Fakhir Rizvi Published October 16, 2018 | 11:13 PM

The United States has imposed sanctions on 20 entities for allegedly providing support to Iran's Basij Resistance Force, the Treasury Department said in a press release on Tuesday.

WASHINGTON (UrduPoint News / Sputnik - 16th October, 2018) The United States has imposed sanctions on 20 entities for allegedly providing support to Iran's Basij Resistance Force, the Treasury Department said in a press release on Tuesday.

"This Iran-based network is known as Bonyad Taavon Basij, which is translated as Basij Cooperative Foundation, and is comprised of at least 20 corporations and financial institutions," the release said.

The designations target four Iranian banks - Bank Mellat, Sina Bank, Parsian Bank, Mehr Eqtesad Bank - and five investment firms, including Negin Sahel Royal Company and Mehr Eqtesad Financial Group.