US hits Iran-linked firms in Switzerland, Isle of Man
The US Treasury Department on Tuesday announced sanctions against 10 businesses linked to Iranian weapons programs, including eight on the Isle of Man, one in Switzerland and one in Malaysia.
The firms are affiliated with the Islamic Republic of Iran Shipping Lines and Bank Mellat -- which have already been targeted for their role in aiding Iran's weapons of mass destruction programs.
"As long as Iran uses front companies, cut-outs and other forms of deception to hide its illicit activities, we intend to expose this conduct and thereby counteract Iran's attempts to evade US and international sanctions," said US sanctions czar Stuart Levey.
© 2010 AFP