Treasury Blocks Iran Government-Supported Organizations Under Terrorism Executive Order

The Treasury Department has announced a set of designations targeting the government of Iran for supporting terrorism and terrorist organizations, including Hizballah, Hamas, Palestinian Islamic Jihad (PIJ), the Popular Front for the Liberation of Palestine-General Command (PFLP-GC) and the Taliban, pursuant to Executive Order 13224. All transactions involving the designees and any U.S. person are prohibited, and any assets the designees may have under U.S. jurisdiction are frozen. In a recent press release, Treasury also identified 21 entities in Iran's banking, insurance and investment, mining, and engineering industries that were determined to be owned or controlled by the government of Iran, with which transactions are prohibited under the Iranian Transactions Regulations.