BREAKING NEWS

Report: Iran using front companies to circumvent sanctions

By JPOST.COM STAFF

MAY 11, 2011 06:06

Iran continues to use front companies, financial transactions and concealed shipping methods to skirt around sanctions, but the bans have been successful in slowing down the country's nuclear and ballistic missile programs, AP reported quoting a UN report.

The report's authors said sanctions have made it more difficult, costlier and riskier for Iran to obtain items need for its nuclear and missile activities.

"At the same time, Iran's circumvention of sanctions across all areas, in particular the use of front companies, concealment methods in shipping, financial transactions and the transfer of conventional arms and related materiel is willful," AP quoted the panel as saying in the report.

"Iran maintains its uranium enrichment and heavy water related activities ... and in the area of ballistic missiles, continues to test missiles and engage in prohibited procurement." R

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