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March 03, 2009 

OFAC Adds Companies Affiliated With Iran's Bank Melli to SDN List

The Treasury Department's Office of Foreign Assets Control (OFAC) today added 11 companies to the Specially Designated Nationals (SDN) list as a result of their ties to Iran's Bank Melli.

Bank Melli has previously been designated as a proliferator by the United States, the European Union and Australia for its role in Iran's nuclear and ballistic missile programs. Bank Melli has been alleged to
provide financial services for Iranian front companies and entities engaged in proliferation activities and has handled transactions for other designated Iranian entities.

The companies designated today include companies located in Iran, the UAE and Cayman Islands that are involved in the investment, cement, textile and other sectors.

As a result of Treasury's actions today, all transactions involving the 11 entities and any U.S. person are prohibited and any assets the designees may have under U.S. jurisdiction are frozen.




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