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U.S. Clamps Down on Iranian Companies
AP ^ | Jan. 4, 2006 | JEANNINE AVERSA,

Posted on 01/04/2006 10:07:52 AM PST by radar101

The Bush administration acted Wednesday to tighten the financial clamps on two Iranian companies suspected of helping to proliferate weapons of mass destruction through involvement in the country's nuclear program.

The action taken by the Treasury Department's Office of Foreign Assets Control targets Novin Energy Co. and Mesbah Energy Co.

The department ordered U.S. banks to freeze any bank accounts or other financial assets found in the United States that belong to these two companies. The U.S. government also is prohibiting Americans from doing business with the two entities.

Novin and Mesbah are believed to be owned or controlled or acting on behalf of the Atomic Energy Organization of Iran, which the U.S. government designated in late June of 2005 as being a proliferator of weapons of mass destruction.

A presidential executive order issued at that time provided the United States with the power to take Wednesday's action against the two Iranian companies.

Novin allegedly transferred "millions of dollars" on behalf of the Atomic Energy Organization of Iran "to entities associated with Iran's nuclear program," the Treasury Department said. Novin operates within the agency and shares the same address , the department said.

Mesbah "has been used to procure products for Iran's heavy water project," Treasury said. "Heavy water is essential for Iran's heavy-water-moderated reactor project, which will provide Iran a potential source of plutonium well-suited for nuclear weapons," the department alleged. "Heavy water is believed to have no credible use in Iran's civilian nuclear power program," it added.

"Identifying and designating supporters of WMD proliferation disrupts the networks that are vital to illicit weapons programs," said Stuart Levey, Treasury's under secretary for terrorism and financial intelligence


TOPICS: Crime/Corruption; Foreign Affairs; Government
KEYWORDS: iran; islamofacisim; rogue

1 posted on 01/04/2006 10:07:54 AM PST by radar101
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To: radar101

"Novin and Mesbah are believed to be owned or controlled or acting on behalf of the Atomic Energy Organization of Iran, which the U.S. government designated in late June of 2005 as being a proliferator of weapons of mass destruction."

Why in earth are they being allowed to do business in the U.S. in the first place? I know (or at least I heard on TV) that President Reagan promised to un-freezed Iranian assets in the U.S. but I'm surprised we would allow anyone connected with the Atomic Energy Organization of Iran to do business here.


2 posted on 01/04/2006 10:11:11 AM PST by gondramB (If even once you pay danegeld then you never get rid of the Dane.)
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To: radar101

bump


3 posted on 01/04/2006 10:24:12 AM PST by F14 Pilot (Democracy is a process not a product)
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To: radar101

It's like fining Hitler 10 marks for taking over Chechoslovakia.


4 posted on 01/04/2006 10:24:19 AM PST by samtheman
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To: gondramB
Why in earth are they being allowed to do business in the U.S. in the first place? I know (or at least I heard on TV) that President Reagan promised to un-freezed Iranian assets in the U.S. but I'm surprised we would allow anyone connected with the Atomic Energy Organization of Iran to do business here.

This was a beautiful move by the Bush Administration. This way, any European or Asian corporations doing business with Novin and Mesbah have an irrefutable and undeniable "heads up" that no material should be transferred to Iran through these Iranian companies or their affiliates. The companies within countries that are allies of the United States need to know who is developing the nuclear systems that could reasonably actualize the Iranian President Mahmoud Ahmadinejad's stated ambition to “wipe [our ally] Israel off of the map”. These un-named companies need to know that their financial future is directly linked to the long term futures of the American people and the survival of all of the people who constitute our allies around the world.

5 posted on 01/04/2006 1:11:00 PM PST by humint
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To: humint

I didn't think about it that way - it makes more sense as a send a message kind of thing.


6 posted on 01/04/2006 1:14:47 PM PST by gondramB (If even once you pay danegeld then you never get rid of the Dane.)
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