BREAKING NEWS

US ratchets up sanctions on Iran

By HILARY LEILA KRIEGER

JUNE 23, 2011 23:02

WASHINGTON – The US Treasury on Thursday sanctioned a major Iranian airline and a port operator in an effort to disrupt a transportation system America says is helping in proliferation activities.

US officials said the two companies – Iran Air and Tidewater Middle East Co. – were singled out because of ties to the Iranian Revolutionary Guard Corps, and their role in facilitating the shipment of equipment, arms and technology linked to Tehran’s missile program and efforts to acquire nuclear capabilities.

The designation freezes any assets in the United States, but the Treasury hopes it will also encourage other countries to cease cooperation with these companies and otherwise limit the IRGC’s ability to operate.

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