The U.S. Treasury Department ("Treasury") Office of Foreign Assets Control ("OFAC"), along with the U.S. State Department, designated 14 individuals and 17 entities allegedly connected to Iran's Organization of Defense Innovation and Research, which played a central role in Iran's nuclear weapons efforts.
As a result of OFAC's action, all property and interests in property of these targets in the U.S. or within the possession or control of U.S. persons must be blocked and reported to OFAC. OFAC's regulations generally forbid all dealings by U.S. persons or in the U.S. that concern property or interests in property of designated individuals. In addition, OFAC noted that individuals who engage in transactions with the designated individuals and entities may be exposed to sanctions themselves, or subject to an enforcement action.
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