US says sanctions network of companies backing Iran

June 4, 2013 18:29

WASHINGTON - A global network of private companies were blacklisted by the United States on Tuesday for providing revenue to the Iranian government and helping Tehran evade international sanctions on its nuclear program, the US Treasury Department said.

The move targets 37 companies spread across the world, from Iran to Croatia, Germany and South Africa, and is the fourth action the United States has taken in the past week to sanction Iran's government over its atomic program.The sanctions prohibit US citizens and companies from dealing with the firms. Any foreign financial institutions dealing with them risk getting cut off from the US financial system.

The Treasury Department said the companies are governed by the Execution of Imam Khomeini's Order, or EIKO - referring to Iran's Supreme Leader Ayatollah Ali Khamenei - and earn tens of billions of dollars in profits.

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