New US Sanctions on Iran: Full Details

Since at least 2014, on behalf of Wuhan Sanjiang, Shi Yuhua sold SEI navigation-related gyrocompasses valued at hundreds of thousands of dollars, and a variety of highly specialized sensors valued at nearly one million dollars, while obfuscating transactions to avoid detection.  Following Wuhan Sanjiang’s designation, Shi Yuhua continued business with SEI on behalf of Wuhan Sanjiang.

Iran- and China-Based Procurement Network

OFAC designated Pardazan System Namad Arman (PASNA) pursuant to E.O. 13382 for having provided, or attempted to provide, financial, material, technological, or other support for, or goods or services in support of, Iran’s Electronic Components Industries (ECI).

ECI was designated pursuant to E.O. 13382 on July 12, 2012 for being owned or controlled by Iran Electronics Industries (IEI), which was designated pursuant to E.O. 13382 in 2008 for being owned or controlled by Iran’s Ministry of Defense for Armed Forces Logistics (MODAFL).  ECI conducts work on a variety of military and civilian projects.

Iran-based PASNA has sought to procure various types of lead zirconium tritanate (PZT) items valued at hundreds of thousands of dollars from China-based Bochuang Ceramic, Inc. on behalf of Iran’s ECI.  PZT items can transmit and receive electrical signals, and are used for anti-submarine warfare, torpedoes, mines, mine countermeasures, aircraft, and ocean surveillance purposes.

Bochuang Ceramic, Inc. is being designated pursuant to E.O. 13382 for having provided, or attempted to provide, financial, material, technological, or other support for, or goods or services in support of, PASNA.  China-based Bochuang sought to sell PASNA hundreds of thousands of dollars’ worth of PZT material, obfuscating Iran’s ECI as the end user of that material by sending shipments to PASNA.

Zhu Yuequn is being designated pursuant to E.O. 13382 for acting or purporting to act for or on behalf of, directly or indirectly, Bochuang.  Chinese national and Bochuang representative Zhu Yuequn has facilitated the sale of PZT items between Bochuang and PASNA, ultimately destined for Iran’s ECI.

As a result of this action, all property and interests in property of those designated today subject to U.S. jurisdiction are blocked, and U.S. persons are generally prohibited from engaging in transactions with them.  In addition, foreign financial institutions that knowingly facilitate significant transactions for, or persons that provide material or certain other support to, the entities designated today risk exposure to sanctions that could sever their access to the U.S. financial system or block their property and interests in property under U.S. jurisdiction.

For identifying information on the individuals and entities designated today, click here.

(Source: OFAC)

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